'The market reaction to the Ukraine crisis seems complacent'

The market reaction to the Ukraine crisis seems complacent

clock • 3 min read

Berenberg Bank's chief investment officer Stefan Keitel tells Julia Rampen why he has upped cash levels, how he aims to play emerging markets, and why it is too soon to talk of a great rotation.

What changes have you made recently in your portfolios? In the long term, we are positive on equities because there is no alternative. But for now we have increased the amount of cash we hold, from 10% last summer to 20% in November 2013. Markets performed pretty well until then. Now we are caught in a more volatile period. Liquidity is a temporary solution. We think it is the right call to keep some powder dry and wait for a better entry opportunity from the equities side. We fully agree with the macroeconomic positive stance. But in 2013, equity prices rose much more than underly...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Investment

Partner Insight: Navigating a new era for investing

Partner Insight: Navigating a new era for investing

Across the developed world, inflation is back and here to stay, says Wellington Management’s John Butler.

Sarka Halas
clock 13 March 2024 • 2 min read
Partner Insight: Should investors go global for more impact?

Partner Insight: Should investors go global for more impact?

Global investing offers scope for broader social impact as well as financial returns.

Sarka Halas
clock 11 March 2024 • 1 min read
Women in Investment Awards winner interview: Omotunde Lawal from Barings

Women in Investment Awards winner interview: Omotunde Lawal from Barings

Supporting the next generation

Katrina Lloyd
clock 07 March 2024 • 1 min read
Trustpilot