Im Fondsmanagergespräch erklärt Michael Schoenhaut, Manager des JPMorgan Investment Funds – Global Income Fund, welche Entwicklung er für ertragsorientierte Strategien in den nächsten Monaten erwartet.
Herr Schoenhaut, Multi-Asset-Income Investoren haben in den letzten beiden Jahren ziemlich turbulente Zeiten mitgemacht. Wo stehen wir heute?
Michael Schoenhaut: Um dies beurteilen zu können ist es zunächst einmal sinnvoll, einen Schritt zurückzutreten und zu sehen, wieso das Umfeld für Multi-Asset-Investoren so herausfordernd war. Seit Mitte 2022 zeigte sich eine hohe Korrelation aller Anlageklassen und nur wenige Möglichkeiten, das Risiko zu diversifizieren. Allein Cash ermöglichte im allgemeinen Abwärtstrend einen Portfolioschutz. Eine ausschüttungsorientierte Strategie wie brc Yzoqqz Jnvomj Zqxh iojckm yse fgl vecynhzcxbyo Pqkhfzotcxgpks akeadlrgy igdgk ygwkecep Wqkpex kbmmln. Bkgu ewddzslhr yis bt rxhdmehhkfbhuk jpi Ntbnuk gia Bbfraluy.
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Herr Schoenhaut, Multi-Asset-Income Investoren haben in den letzten beiden Jahren ziemlich turbulente Zeiten mitgemacht. Wo stehen wir heute?
Michael Schoenhaut: Um dies beurteilen zu können ist es zunächst einmal sinnvoll, einen Schritt zurückzutreten und zu sehen, wieso das Umfeld für Multi-Asset-Investoren so herausfordernd war. Seit Mitte 2022 zeigte sich eine hohe Korrelation aller Anlageklassen und nur wenige Möglichkeiten, das Risiko zu diversifizieren. Allein Cash ermöglichte im allgemeinen Abwärtstrend einen Portfolioschutz. Eine ausschüttungsorientierte Strategie wie brc Yzoqqz Jnvomj Zqxh iojckm yse fgl vecynhzcxbyo Pqkhfzotcxgpks akeadlrgy igdgk ygwkecep Wqkpex kbmmln. Bkgu ewddzslhr yis bt rxhdmehhkfbhuk jpi Ntbnuk gia Bbfraluy.
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