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8 May 2024

Asset Allocation Outlook

April was a difficult month for investors as both equities and bonds lost ground, incidentally without causing significant panic. Although an upturn was visible in the VIX index, which measures US equity volatility, it was of shorter duration and less pronounced than in October last year. The MSCI global equity index noted its first monthly downturn since October last year. This downturn derived from industrialised nations. Remarkably enough, given the turbulence in currencies, the emerging market index noted a small upturn. This tells us the origin of the turbulence - interest rate fears in the US - and explains why equities fell more sharply in the US than in the Eurozone or Japan.

Please see Van Lanschot Kempen’s Asset Allocation Outlook for May. The highlights this month are:

Eurozone economy exits recession, US stable
Uncertainty surrounding outlook for earnings
Investment policy unchanged

Download the Asset Allocation

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Il y a un dicton en néerlandais, Kom verder, qui ui signifie beaucoup de choses, et c'est notre philosophie d'entreprise. Il reflète la façon dont nous travaillons avec nos clients, mais aussi la manière dont nous dirigeons nos entreprises participantes pour créer de la valeur pour les actionnaires grâce à un engagement actif.

Risque de perte en capital. La valeur des investissements et des revenus qui en découlent peut évoluer à la hausse comme à la baisse. Les investisseurs sont susceptibles de ne pas récupérer l’intégralité de leur investissement initial. Les performances passées ne présagent pas des performances futures et ne sont pas constantes dans le temps.