Raiffeisen-§ 14-ESG-MixLight (R)

Fund Management Report

November initially saw rising share prices, but these gains were then wiped out by a correction towards the end of the month. This was caused by increasing COVID cases and then the emergence of a new variant (Omicron). The equities allocation was not changed during December. European assets were still preferred in the equity segment. Minor purchases were made in shares from North America, Japan, and the global Emerging Markets. The weighting of euro government bonds in the fund was much lower, while the assessment of euro corporate bonds was more positive. The financial market will primarily be focusing on news about how rapidly the new virus variant spreads and how effective the vaccines are against it. A great deal of attention will also be focused on the actions of the US Fed. (10.12.2021)