Raiffeisen-GlobalAllocation-StrategiesPlus (R)

Fund Management Report


As part of the strategic asset allocation, money market exposure in the Emerging Markets was increased somewhat in November. The more short-term strategies lowered the equity risk somewhat during the past month. Nevertheless, the equity ratio remains in the upper half of the range foreseeable right now (0 – 40%). We believe that the consolidation at the beginning of the month was a reaction to overheating on the markets, due to the very positive sentiment among investors. Over the medium run, we take a more cautious view, in particular due to the high valuations and the upcoming reduction of the very expansive central bank measures. (23.11.2017)