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De toegang tot informatie op deze website is uitsluitend voorbehouden aan beleggers in Nederland. Belangrijk: lees a.u.b. de onderstaande informatie. Deze bevat informatie over wet- en regelgeving die van toepassing is op de status van onze onderneming en het gebruik van deze website, en over alle beleggingen in onze producten die in deze website ter sprake komen. Opgelet! U moet deze algemene voorwaarden aanvaarden alvorens verder te kunnen gaan. Copyright 2023 Nordea Investment Funds S.A. – alle rechten voorbehouden.
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10 November 2022
In times of great uncertainty, investors focus more on managing risk than positioning for the future. In reality, it is becoming increasingly possible to forecast inflation with some precision both in the United States and to a lesser extent in Europe.
While time is indeed the great redeemer for the markets and the economy, key problems remain ahead
The challenges ahead
A slow changing of the guard
After inflation peaks, partly driven by base effects, new trends should emerge
As we saw in the June rally, identifying the market’s pain points will not be not enough. The market needs time for the mix of growth and inflation to improve enough. Time indeed is the great healer, and the odds are improving week after week.
What does it mean?
The opportunity set is currently narrowly focused on Covered Bonds and Value/Quality Equities. However, in Q1 or Q2 of 2023, we should see it expand by leaps and bounds into Fixed Income, Credit (Developed Markets, selective ESG/Emerging Markets) and Equities (e.g. ESG). Broadly speaking, Equities are actually attractively valued, particularly so in Europe and Emerging Markets.
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Nordea Asset Management is the functional name of the asset management business conducted by the legal entities Nordea Investment Funds S.A. and Nordea Investment Management AB (“the Legal Entities”) and their branches and subsidiaries. This document is advertising material and is intended to provide the reader with information on Nordea’s specific capabilities. This document (or any views or opinions expressed in this document) does not amount to an investment advice nor does it constitute a recommendation to invest in any financial product, investment structure or instrument, to enter into or unwind any transaction or to participate in any particular trading strategy. This document is not an offer to buy or sell, or a solicitation of an offer to buy or sell any security or instruments or to participate to any such trading strategy. Any such offering may be made only by an Offering Memorandum, or any similar contractual arrangement. Consequently, the information contained herein will be superseded in its entirety by such Offering Memorandum or contractual arrangement in its final form. Any investment decision should therefore only be based on the final legal documentation, without limitation and if applicable, Offering Memorandum, contractual arrangement, any relevant prospectus and the latest Key Investor Information Document (where applicable) relating to the investment. The appropriateness of an investment or strategy will depend on an investor’s full circumstances and objectives. Nordea Investment Management AB recommends that investors independently evaluate particular investments and strategies as well as encourages investors to seek the advice of independent financial advisors when deemed relevant by the investor. Any products, securities, instruments or strategies discussed in this document may not be suitable for all investors. 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