Beatriz Gimeno comments on Risk-off

Beatriz Gimeno is gead of Fund Selection at Morabanc in Andorra, and a member of InvestmentEurope’s Editorial Board.

In January 2016 she commented on the following question:

Q.Have you had to review your fund selection (and/or asset allocation) positions in any particular way in light of the recent risk-off shift in global markets experienced at the start of 2016?

A. “Same problems different year,” I would say.

Oil, the Chinese economy and interest rates in the US are still the major reasons for concern. Noise has increased during the first weeks of this year and volatility has risen again. Proof of that is in the drawdowns in the markets. Performing deep analysis of the portfolio in terms of liquidity and other possible risks is crucial. Also, take into account if the manager has suffered some difficult years when managing the fund – it would be a key part of the analysis. In fact, it is an excellent way to obtain real results in a stress test.


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Jonathan Boyd
Editorial Director of Open Door Media Publishing Ltd, and Editor of InvestmentEurope. Jonathan has over two decades of media experience in Japan, Australia, Canada and the UK. Over the past 17 years he has been based in London writing about funds and investments. From editing the newsletter of the Swedish Chamber of Commerce in Japan in the 1990s he now focuses on Nordic markets for InvestmentEurope. Jonathan was awarded Editor of the Year at the Professional Publishers Association (PPA) Independent Publisher Awards 2017. Shortlisted for the same in 2016, he was also shortlisted in 2017 and 2015 for the broader PPA Awards category Editor of the Year (Business Media).

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