Equity Markets, potential for growth amid high valuations

Our 2024 Investment Themes Mid-Year UpdateIn this podcast, Edmund Shing, Global Chief Investment Officer and Guy Ertz, Deputy Chief Investment Officer, unveil the mid-year update of their 2024 Investment Themes. Appealing deep value opportunities amid a bull market. Despite strong gains in equity and other asset markets both in 2023 and this year to date, cheap asset classes and regions offers extremely attractive opportunities for the patient investor.Bonds are back (again): the last chance to lock in high rates. Amid a growing choice of attractive income opportunities, benefit from real bond yields, diversified infrastructure funds/ETFs and structured products based on corporate credit.Winners in a multipolar world. In a context of greater geopolitical instability and uncertainty, identify the emerging trends, sectors and countries that stand to benefit in the new multipolar world.Demographics and Healthcare: achieving more with less. In a context of ageing populations and a post-COVID awareness of wellness and AI innovation in the healthcare sector, benefit from opportunities via our selection of equities and funds. Hosted by Ausha. See ausha.co/privacy-policy for more information.

Dans ce podcast, Guy Ertz, Deputy Chief Investment Officer, et Edouard Desbonnets, Senior Investment Strategist, dressent un état des lieux de la dynamique des obligations d’entreprises Investment Grade.Comment les obligations d'entreprises IG ont-elles réagi aux événements politiques français ?Le marché primaire a-t-il été gelé ?Le moment est-il venu d'investir ?Les fondamentaux sont-ils solides ?Hosted by Ausha. See ausha.co/privacy-policy for more information.

In this podcast, Guy Ertz, Deputy Chief Investment Officer, and Edouard Desbonnets, Senior Investment Strategist discuss euro Investment Grade corporate bonds. How did IG corporates react to French political events?Has the primary market been frozen?Is the time to invest?Are fundamentals sound?Hosted by Ausha. See ausha.co/privacy-policy for more information.

In this podcast, Edmund Shing, Global Chief Investment Officer and Philippe Gijsels, Chief Investment Advisor at BNP Paribas Fortis Belgium, discuss investment opportunities and unloved stock markets. European mid/small-caps should benefit from a cyclical upturn in manufacturing and the European consumption in the context of lower inflation and lower interest rates.While European financials have performed strongly, listed REITs are the one financial sector that has lagged. Interesting growth segments are logistics/warehouses, healthcare and hotelsBelgian stocks are often overlooked but there are some quality stocks in the BEL20 indexHosted by Ausha. See ausha.co/privacy-policy for more information.

Dans ce podcast, Edmund Shing et Xavier Timmermans discutent des récents niveaux élevés de cuivre et de leur haut potentiel de valeur.Le cuivre est crucial dans divers secteurs, notamment l'électronique, le logement, le transport, la défense et la transition énergétique, ce qui en fait un produit essentiel dans l'économie moderne.L'offre mondiale de cuivre est limitée alors que la demande augmente, ce qui entraîne des déficits persistants entre l'offre et la demande. Ce déséquilibre devrait se poursuivre dans les années à venir.Le cuivre a bondi de 27 % en 2024, atteignant plus de 10 000 $ la tonne. Les sociétés minières mondiales de cuivre ont également connu une augmentation de 32 %, reflétant la solide performance du marché.Les problèmes géopolitiques et environnementaux, tels que les difficultés de production au Chili et la fermeture des mines au Panama, ont limité l'offre. De plus, l’interdiction des importations de cuivre en provenance de Russie par les États-Unis et le Royaume-Uni alimente les inquiétudes en matière d’approvisionnement.Investir dans le cuivre peut se faire directement via des ETF sur les métaux et les actions minières. Les sociétés minières sont favorisées en raison de leur potentiel de dividendes élevés, fournissant des revenus en attendant une amélioration du marché.Hosted by Ausha. See ausha.co/privacy-policy for more information.

In this podcast, Edmund Shing and Xavier Timmermans discuss the recent copper high levels and their high value potentialCopper is crucial in various sectors, including electronics, housing, electrical transmission, defense, and the energy transition, making it a vital commodity in the modern economy.The global supply of copper is limited while demand is growing, leading to persistent supply/demand deficits. This imbalance is expected to continue in the coming years.Copper has surged 27% in 2024, reaching over $10,000 per tonne. Global copper miners have also seen a 32% increase, reflecting a strong market performance.Geopolitical and environmental issues, such as production difficulties in Chile, and the closure of mines in Panama, have constrained supply. Additionally, the banning of copper imports from Russia by the US and UK is fuelling supply concerns.Investing in copper can be done directly through metals ETFs and mining stocks. Mining companies are favoured due to their potential for high dividends, providing income while waiting for the market to improve.Hosted by Ausha. See ausha.co/privacy-policy for more information.

In this podcast, Prashant Bhayani shares with Dannel Low from the Asia CIO team the latest update on China, addressing the following questions: ■ How real is the Chinese economic recovery?■ What are the stimulus measures announced during the recent politburo statement and the implications for the market?■ Have there been more property measures rolled out lately and how effective are they? When will the property sector bottom out?■ How will the recent developments in China impact the equities market? Can the current rally continue?Hosted by Ausha. See ausha.co/privacy-policy for more information.

In this podcast, Edmund Shing and Guy Ertz discuss the potential for equity markets to rise despite high valuations, considering economic trend and market factors.The US economy is intentionaly slowing to control inflation, while Europe’s economy is accelerating as intended by central bank policiesThe ECB will cut rates in June with the Fed following later this yearHigh Valuations are concentrated in U.S tech companies, but overall market valuations aren’t as extreme as during the 2000 tech bubbleKey factors supporting stock prices include strong liquiduty and earnings momentum , despite some segments being too expensiveHosted by Ausha. See ausha.co/privacy-policy for more information.

Dans ce podcast, Guy Ertz, Chief Investment Advisor et Édouard Desbonnets, Senior Investment Strategist chez BNP Paribas Wealth Management, comparent les performances du Cash et des marchés actions : 1990-2020 : la plupart des actions individuelles n’ont pas battu le cash !Alors que les marchés boursiers ont largement surperformé les obligations et les liquiditésTrès peu d’actions très performantes créent cette surperformance boursière à long termeCes actions proviennent de nombreux secteurs, notamment la santé, la technologie et les semi-conducteurs et la consommation discrétionnaire.La plupart des investisseurs ont intérêt à bénéficier d’une exposition largement diversifiée aux fonds d’actions et aux ETF.Hosted by Ausha. See ausha.co/privacy-policy for more information.

In this podcast, Edmund Shing, Global Chief Investment Officer at BNP Paribas Wealth Management, compares stocks and cash performance : 1990-2020: most individual stocks did not beat cash!While stock markets outperformed bonds and cash by a long wayVery few super-performing stocks create this long-term stock market outperformanceThese stocks come from many sectors, including Healthcare, Tech and Semis, and Comsumer DiscretionaryMost investors are best off with widely diversified stock fund/ETF exposureHosted by Ausha. See ausha.co/privacy-policy for more information.