A combination of problems overshadowed the hitherto positive economic environment and still good corporate figures: the Evergrande imbalance, supply bottlenecks, rising inflationary pressure and market participants' concerns about a possibly more restrictive monetary policy in the future.
Elections and inflation temporarily cause unrest
The unrest ahead of the German parliamentary elections could temporarily depress the German stock market. A clear shift to the left, for example, is likely to cause unease among investors and cause interest rates to rise. Green shares and exposures to Japan appear attractive at the moment.
Monetary policy supports equity markets
Even though August is considered to be a rather restrained month for the stock markets, the international stock markets did well with a few exceptions (Brazil, Singapore). Among other things, the markets benefited from the continued expansionary monetary policy in the USA and the euro area, while the further increase in inflation weighed on the markets.
Fake Website "DJE-Investment"
DJE Investment S.A. warns the public about the website «www.dje-investment.com» where an entity offers investment services claiming to be established at 4, rue Thomas Edison, L-1445 Strassen Luxembourg. This address is the registered office of DJE Investment S.A.
People need prophylaxis, diagnosis and therapy
The health system, which is considered crisis-resistant, has suffered particularly from the Corona pandemic. Now many postponed operations and doctor's visits are being made up for. In this interview, Maximilian Köhn, fund manager of DJE - Europa, looks at the opportunities now available in the sector and sheds light on its future prospects.
Theme-oriented stock selection
DJE - Alpha Global is an offensive mixed fund that invests primarily in equities, but also in bonds and precious metals, and has a flexible cash quota. What makes it special is its theme-oriented approach, for example to digital life or e-mobility.
Cautious optimism and Chinese regulatory frenzy
Many companies were able to meet or exceed the high profit expectations for the second quarter. Rising producer prices, supply bottlenecks and a resurgence of pandemics make companies more cautious but still optimistic about the future. In China, on the other hand, the government caused deep red figures with regulations and statements.
Despite inflation - interest rates are falling
Even though August and September are not considered good stock market months, we expect good prospects for the stock markets as the year progresses, with advantages for Europe and the USA over Asia and the emerging markets. However, it is important to keep an eye on the development of inflation, interest rates and the Corona pandemic.
Pricing power makes the difference
The global economy should continue to develop well, and the profit forecasts of some companies could even be exceeded. Due to rising producer prices, the focus is increasingly on companies that have strong pricing power. Rising inflation rates are eating away at the mini- or minus interest rates on government securities.
Earnings growth drives markets, producer prices drive inflation
For the second quarter, many companies expect high earnings growth compared to the same quarter last year, which was heavily weighed down by Corona. This supported equity markets in June, while rising producer prices pushed up inflation worldwide.
Interim conclusion 2021 – and investor questions on Corona, inflation & Co.
The global economy is recovering from the consequences of the Corona pandemic, many stock markets have performed well in the first half of 2021. But where do things go from here? Dr Jens Ehrhardt analyses central bank guidance, market sentiment and sector potential for the coming months - based on current questions from DJE social media followers.
Scarce commodity: residential real estate remains in demand
Despite increased risks such as interest rates or regulation, residential real estate remains attractive - in addition, high discounts to the intrinsic value of real estate shares are enticing.
Pure Dividend Strategy
DJE - Dividende & Substanz provides its investors with access to a global universe of equities with strong substance that offer sustained attractive dividend yields. These are regarded as a sign of quality, as they can only be provided by companies that operate profitably on a sustained basis.
Price potential and inflation
High corporate profit expectations suggest further price potential for the stock markets in the coming months. Increased inflation accompanies the well-performing economy, but without triggering further shocks. As the excessive optimism has cooled down again, an abrupt disappointment of investors is unlikely.
Corona vaccines: Emergency shot for the health sector
Corona has had a tight grip on the world for more than a year. One of the losers is the health sector as fewer operations were performed and less drugs were prescribed during the lockdown. The Corona vaccines are now the home-grown salvation for the health sector.
Summer trend 2021: Sideways
The rally phase of the first third of the year is likely to be replaced by a sideways trend in the summer. Moderate inflation could support equities and real assets. The investment regions of the USA and Europe remain interesting. And commodities and gold are also gaining in attractiveness again.
Realised catch-up potential
In the USA and especially in China, April showed the great catch-up potential created by the Corona pandemic and the restrictions on social and economic life. Many companies presented quarterly figures that far exceeded expectations, and the Chinese economy grew by a unique 18.3% year-on-year in the first quarter.
Trust no one - and other software success models
Although technology stocks are not as much focused at the moment as they were in 2020, the digital transformation continues and with it the demand for software solutions. The call for security is particularly strong because the shift of sensitive data to cloud systems, like the omnipresent collection of customer data, also triggers unauthorized desires. An investment theme for the DJE - Alpha Global.
„You just have to be consistently good"
For the fourth time in a row the balanced mixed fund DJE - Zins & Dividende won the German and Austrian Fund Award. In the Corona year 2020 the conditions were particularly tough because the stock markets were under pressure, there were dividend cuts and hardly any interest could be earned with bonds. In an interview fund manager Dr Jan Ehrhardt talks about the lessons he has learned from the pandemic and where he currently sees investment opportunities.