This asset allocation outlook from Van Lanschot Kempen, led by Joost van Leenders, provides insights into current market dynamics and tactical adjustments for portfolio strategy.
• Equity Positioning: Overweight in U.S. equities is maintained due to robust earnings growth, while European exposure is reduced to neutral amid weaker growth and earnings dynamics.
• Fixed Income: Cautious on high-yield and investment-grade credits as spreads remain tight; U.S. government bonds are preferred.
• Commodities and Real Estate: Neutral stance, with limited upside due to weak global industrial demand and high refinancing costs for real estate.
For a detailed breakdown of asset class performance and strategic recommendations, access the full report.
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