Raiffeisen-Euro-Rent (R)

Fund Management Report

Some slight gains were registered on the European government bond markets in June. Following the sharp declines suffered as the government was formed, Italian government bonds firmed up somewhat. As for the growth outlook, market participants started to focus more and more on the trade disputes, leading to demand for relatively safe government bonds. The development of the corporate bonds included in the fund was nondescript, as the numerous new issues prevented better performance on the market. Following the sharp correction, the share of Italian government bonds was increased again slightly, and the cautious stance in terms of duration was maintained for the time being. (25.06.2018)