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by Ralf Ferken, Euro am Sonntag
W.ow should investors react if the stock market situation becomes difficult? For example, if stocks are expensive, if rising inflation rates eat up bond rates for good, and if states keep piling up high levels of debt? “You could put your savings on a bank account on the high edge. Because you suspect rightly that everything could go down the drain at some point,” said the Frenchman Didier Saint-Georges recently in a podcast.
But the investment strategist of the French fund company Carmignac does not want to follow this advice. “You are giving up the idea of increasing your fortune,” he said. After all, his colleagues manage a number of funds that make precisely this claim. This applies, for example, to the popular mixed fund Carmignac Patrimoine, which uro am Sonntag has now upgraded to Fund Note 2 in cooperation with the analysts FondsConsult – mainly because it has shown the lowest price fluctuations compared to other balanced mixed funds in the past four years.
At Carmignac Patrimoine, David Older oversees the equity component, which can make up up to 50 percent of the portfolio. There he relies on European consumer stocks like Herms, on US tech stocks like Facebook or on Chinese health stocks like Wuxi Biologics.
Emerging countries shine
It went even better for the sister fund Carmignac Emerging Patrimoine, which was upgraded to fund grade 1. The portfolio only contains stocks and bonds from emerging markets.
Some equity funds that aim for decidedly low price fluctuations were less fortunate. The BL Global Equities, the Jyske Equities Low Volatility and the SPDR S & P 500 Low Volatility ETF were downgraded to fund rating 3. In addition, the Robeco QI US Conservative Equities now has to be content with fund grade 4. Although the prices of these funds did not fluctuate very much, they have not been able to keep up with the price recovery since March 2020.
The SPDR S & P EM Dividend Aristocrats ETF, which was downgraded to fund grade 4, also suffered a setback.
The UBS Factor MSCI EMU Quality ETF immediately achieved FundNote 1. With this UBS ETF, investors are currently investing in 58 profitable companies from the Eurozonewho have little debt and whose profits are growing steadily. Allianz, Deutsche Post and SAP are among the largest German stocks, while Kering, LVMH and LOral come from France.
The M & G EM Hard Currency Bond EUR also made a good debut with FondsNote 2. With him, M & G hedges the currency risks against the euro.
Image sources: Finanz Verlag GmbH, Dieter Spannknebel / Getty Images, Finanz Verlag