Raiffeisen-GlobalAllocation-StrategiesPlus (R)

Fund Management Report

As part of the strategic allocation, profits were taken on European equities, and the position was reduced by 1%. In the bond segment, in strategic terms we are mainly counting on inflation-linked bonds. Due to the shorter-term strategies, the share of equities is currently around 12%, which is in the lower half of the foreseeable range (0% – 40%). Starting from mid-June, the equity markets lost some momentum after having recovered in the previous months. Reasons for this included the discussions about tariffs and worries about a possible trade war between the USA and the rest of the world. While more volatility should be seen on the capital markets in conjunction with the challenges faced by central banks in scaling back their very expansive policy measures, we believe that a solution will be found in this regard over the medium term. (25.06.2018)