Some investors replace part of their fixed income holdings with market-neutral equity. Though these funds are supposedly uncorrelated to the equity market, it’s better to choose a diversified approach, argues Rui Machado, alternative investments director at IM gestao de ativos in Lisbon.
José Luís Borges is head of institutional portfolios at BPI Gestão de Activos in Lisbon. His favourite fund, in which he has been investing on behalf of his mainly pension fund clients for seven years now, is the Jupiter European Growth Fund.
Portugal’s fund selectors are switching part of their bond allocations to absolute return funds. They now have between 10% and 15% of their portfolios allocated to absolute return, and that share is rising.
Fund selectors in Portugal are far from concerned by the world’s equity markets’ rough start to the year. To the contrary, they see the current weakness as an opportunity to further increase their still relatively low exposure to equities.
Close to half of the audience of fund selectors assembled in Lisbon believed financial markets underestimate the risk of Greece leaving the eurozone (though at the same time only a quarter thought a Grexit would actually happen. “If some complacency has come into the market we are probably guilty of it as well,” admitted Richard […]
José Luis Borges, head of institutional portfolios at BPI Gestao de Activos, is now underweight government bonds, and tells EIE’s Tjibbe Hoekstra why he has been investing in equity long/short strategies as an alternative.
A significant minority of Portuguese fund selectors have decided to shed their exposure to developed market corporate and government bonds completely, in response to near-zero yields. Will the rest of Europe follow suit?
Fund selectors from Andorra and Portugal are the current frontrunners in EIE’s Fantasy Fund Picker Competition 2014.
Emerging markets are becoming a theme again among European fund selectors. Also in Portugal, appetite for EM stocks and bonds is rebounding.
This gallery features a slideshow of photos taken during the 2014 Expert Investor Europe Portugal event.