To news & knowledge overview

Asset Allocation Outlook June

12 June 2020

May was another positive month for risky investments. Equities climbed by 4% worldwide, with gains mostly being noted in industrialised nations. Spreads on credits tightened further, especially in the high yield asset classes. Yields on emerging market debt also fell. Government bonds were largely unaffected by the positive performance of risky investments. In the US, 10-year government bond yields remained more or less unchanged, while in Germany they rose by 14 basis points. Spreads on Italian and Spanish government bonds narrowed. The positive trends on the financial markets were mainly the result of the stabilisation or decrease in the number of active corona cases, but also the enormous stimuli from central banks and governments. We have increased the risk exposure in our investment policy marginally by buying high yield European credits. Our slight underweight in equities has been maintained.

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

  • Spread of coronavirus slowed, lockdowns being eased
  • Effects of fiscal and monetary policies becoming visible
  • Increased risk exposure in investment policy after buying high yield credits

Read more

2020, 12 June

Asset Allocation Outlook

Download

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
Kim Lubbers

Kim Lubbers

Senior Portfolio Manager
Martijn Gerrits

Martijn Gerrits

Investment Strategy Advisor

Subscribe to our letter

Leave your email address and be the first to receive the latest editions

Please fill in a first name
Please fill in a last name
Please fill in your company name
This does not seem to be a valid email address
The information above is correct
Why do we store your information?

Kempen will use your name, telephone number and/or e-mail to respond to your request or subscription.

More information can be found in our Privacy Statement Merchant Banking and Privacy Statement for Asset Management.

* Upon sending this you approve that we save your information

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Submitting your form

We have received your form

And we will get back to you soon.

Something went wrong

Please check your form for errors or try again later.

News & Knowledge

2021, 14 January

The Tipping Point: The race for end game assets

Read more
2021, 14 January

Asset Allocation Outlook January

In the wake of the spectacular upturn on the equity markets in November, the positive sentiment continued into December as well. Equities even managed to climb a few percent higher, with the plus of 7.2% in emerging markets standing out in particular. Spreads tightened further on credits and government bonds issued by Southern European countries and emerging markets. Looking back at 2020, gold heads the rankings at a price gain of 25%.

Read more
2021, 12 January

Kempen Real Estate Update: 2021 – Something to look forward to

The year behind us has been exceptional on many fronts. What started out as just another solid post-GFC liquidity fueled year of even higher highs, unexpectedly turned into a year where business models were tested, companies had to evolve or face collapse and the ever-more important global political economy took a central role all due to a truly global pandemic.

Read more
Read more
Disclaimer Kempen Privacy statement Kempen Disclaimer Kempen & Co Privacy statement Kempen & Co Statement under the UK Modern Slavery Act Cookie statement & settings
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