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Asset Allocation Outlook July

09 July 2020

In June, investors were confronted with the conflicting impact of an improved outlook and a sharp increase in the number of new coronavirus cases around the world. Optimism prevailed in the end; the MSCI Global Equity Index gained 2.5% and spreads on investment grade and high yield credits and emerging market debt tightened. Yields on long and short-term government bonds barely moved. The optimism was mainly felt in the first week of June.

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

  • Economic outlook improving…
  • … but higher number of corona cases making markets jittery
  • Investment policy unchanged: preference for high yield bonds over equities

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2020, 09 July

Asset Allocation Outlook

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Disclaimer
Kempen Capital Management N.V. (KCM) is licensed as a manager of various investment funds and to provide investment services and is subject to supervision by the Netherlands Authority for the Financial Markets. This information may not be construed as an offer and provides insufficient basis for an investment decision.

The Asset Allocation Desk

Joost van Leenders

Joost van Leenders

Senior Investment Strategist
Ivo Kuiper

Ivo Kuiper

Head Asset Allocation & Rates
Luc Aben

Luc Aben

Chief economist
Hans Kamminga

Hans Kamminga

Senior Portfolio Manager
Kim Lubbers

Kim Lubbers

Senior Portfolio Manager
Martijn Gerrits

Martijn Gerrits

Investment Strategy Advisor

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Kempen & Co is a trade name of Van Lanschot Kempen Wealth Management NV. Both Van Lanschot Kempen Wealth Management NV and Kempen Capital Management NV are part of Van Lanschot Kempen NV