Dear Ladies and Gentlemen,
The views that our Co-Chief investment officer Asoka Wöhrmann expresses in the May issue of the new CIO View carry a lot of weight: He and his colleagues at Deutsche Asset & Wealth Management manage client assets totaling 934 billion euros (as of March 31, 2014).
His nine positions are:
? Global economic growth outlook for 2014 remains unchanged: 3.7%
? The Eurozone will manage modest growth this year: 0.9%
? Commodity prices are likely to soften. Oil prices will remain under pressure
? Fair valuations and rising earnings support equities
? Investor interest tightens Eurozone periphery spreads
? Fears of a deflationary crisis in the Eurozone are overblown
? Euro Stoxx 50 Index moves upwards, but it will be a bumpy ride
? Emerging markets start to appeal again ? but be selective
? Asset allocation of our balanced model portfolio for clients based in Europe, Middle East & Africa:
Fixed income: 43,6%, Equities: 45%, Absolute return: 10%, Commodities: 1.4%
Also in CIO View:
-Focus: Eurozone ? inflation low, deflation no
-The big picture: interview with Asoka Wöhrmann
-Investment traffic lights: our tactical and strategic view on different asset classes
-Core portfolio allocation: interview with Stéphane Junod, regional chief investment officer
-Absolute return portfolio: interview with Mark Roberts, Head of Research & Strategy, Alternatives and Real Assets
-High-conviction ideas: selected investment ideas to complement wealth management clients? portfolios
You can also obtain a copy of CIO View at www.DeAWM.com.
We hope our publication proves to be quite valuable to you.
Tel: +49 (0)69 / 9101 4533
E-mail: [email protected]
Sabina Díaz Duque
Tel: +49 (0)69 / 9101 4177
E-Mail: [email protected]
Deutsche Asset & Wealth Management
With ?934 billion of assets under management (as of March 31, 2014), Deutsche Asset & Wealth Management? is one of the world’s leading investment organizations. Deutsche Asset & Wealth Management offers individuals and institutions traditional and alternative investments across all major asset classes. It also provides tailored wealth management solutions and private banking services to high-net-worth individuals and family offices.
? Deutsche Asset & Wealth Management is the brand name of the Asset & Wealth Management division of the Deutsche Bank Group. The legal entities offering products or services under the Deutsche Asset & Wealth Management brand are listed in contracts, sales materials and other product information documents