Deutsche Asset Shifts Back to Europe Stocks in Multi-Asset Funds
(Bloomberg) -- Deutsche Asset Management increased allocation to Europe in its multi-asset portfolios from the lowest on record in the past quarter, according to the firm’s global head of research Phil Poole.
- NOTE: In February, Deutsche AM Multi-Asset Funds Cut Europe Holdings to Record
- Sees more value in Europe versus the U.S.: “some of the political risk we saw in European stocks has washed out”
- “valuations are attractive, the european economy is growing”
- Says rally in peripheral stocks has further to run
- In U.S. there’s “too much optimism priced into the Trump stimulus program. There’s a gap relative to expectations and in terms of what we see as being delivered”
- U.S. stocks “could see a 3-5 percent correction without any problem”
- Fund has increased cash position, ready to redeploy in U.S. at more attractive levels.
Alert:
HALISTERSource: BFW (Bloomberg First Word)
Tickers DBK GR (Deutsche Bank AG)
People Philip Poole (Deutsche Bank AG)
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