Halister News

(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.