Investment Strategy

For markets, 2017 started well before January

For markets, 2017 started well before January

In 2017, Investors will need to be agile, go for convexity and prove highly selective; the stock market year has already started judging from the rapid gains chalked up by indices in the last weeks of 2016. Far from representing an impossible hurdle, this acceleration phase is clearly not yet over.

Our market outlook

2017, the year for growth?



Where can you expect to find fixed-income yield in 2017?



How will Donald Trump’s climate policy affect Europe?



How to invest in emerging debt?

What will the US market potential be like in 2017?



Have the markets anticipated the Trump risk?



How will Donald Trump’s climate policy affect the US?

Key points

  • Six months after the UK referendum, growth in Europe and the UK has been remarkably resilient
  • The economic horizon is now clearer but 2017 will be a very busy year for elections
  • Donald Trump is about to take to the stage, moving from Twitter to the White House
  • Investors will need to be agile, go for convexity and prove highly selective in 2017 but the stock market year has already started judging from the rapid gains chalked up by indices in the last weeks of 2016

Our top conviction picks

  • High exposure to equities and overweight developed countries
  • Strong interest in European M&A, cyclicals, energy and financials in the US and, more broadly, the healthcare theme
  • On bond markets, focus on credit market segments with good risk/return profiles like financial bonds and emerging country debt
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For markets, 2017
started well before January


Need more information?

Contact us

Edmond de Rothschild Asset Management (France)
47 rue du Faubourg Saint-Honoré
75401 Cedex 08 Paris
France


+ 33 1 40 17 25 25
*Our road shows in France and Europe: Milan – 1 December, Francfort – 7 December, Madrid – 14 December, Paris – 10 January, Lyon – 11 January, Strasbourg – 12 January, Monaco – 16 January, Nice – 17 January, Geneva - 17 January, Marseille - 18 January, Toulouse – 19 January, Nantes – 23 January, Lille – 24 January, Luxembourg – 25 January, Brussels – 26 January, Bordeaux - 30 January.

Definitions
Value: discounted stocks.
Subordinated debt: debt which is repaid after other creditors have been reimbursed. In return for higher risk, subordinated debt securities, which are often without a fixed maturity, benefit from a higher coupon than senior bonds.
High Yield: speculative debt securities with a higher risk of issuer default.

January 10 2017. Non-binding document.This document is for information only.
The data, comments and analysis in this bulletin reflect the opinion of Edmond de Rothschild Asset Management (France) and its affiliates with respect to the markets and their trends, their regulation and tax treatment, on the basis of its own expertise, economic analysis and information currently known to it. However, they shall not under any circumstances be construed as comprising any sort of undertaking or guarantee whatsoever on the part of Edmond de Rothschild Asset Management (France). Potential investors should consult their service provider or advisor and exercise their own judgement independently of Edmond de Rothschild Asset Management on the risks inherent to each investment and its suitability to their own personal and financial circumstances. To this end, investors must acquaint themselves with the key investor information document (KIID) that is provided before any subscription and available at http://funds.edram.com or on request from the head office of Edmond de Rothschild Asset Management (France).