Short-term benefit from booster vaccination, but from Diabetes in the long term
The coronavirus has had a firm grip on the world for almost two years now and has led to a previously unimaginable surge in innovation, not least in the medical and pharmaceutical sectors. In the long term, however, diseases of affluence such as obesity and diabetes will outstrip the virus in the healthcare sector.
"Growth is underestimated and inflation overestimated"
Stefan Breintner works alongside Dr. Jan Ehrhardt as co-fund manager of the DJE - Zins & Dividende. Here Breintner explains his understanding of the current discussion on stagflation, China and monetary policy and how both fund managers have recently positioned the DJE - Zins & Dividende.
Sideways with a friendly trend
Companies' appetite for investment is rising steadily, and many firms want to restock in the coming year. This could boost the upswing in 2022. The investment regions of the USA and especially Europe, as well as the banking and energy sectors, are currently attractive in our view.
Growing market for luxury goods - the brand makes the difference
Thanks to steadily increasing demand from Asia the luxury sector has developed above average in recent years. Both leather goods and jewellery enjoy high popularity. In the watch market selected high-priced watches from popular, privately managed brands are in high demand. In the mid-range and lower price segments luxury watches are competing with the success of smartwatches.
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.
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.
Commodities: no general supercycle, but selective opportunities - especially for copper
Gold investments are traditionally perceived as inflation protection. However, in 2021 gold only fulfilled this function to a limited extent. Although the inflation trend has accelerated strongly so far this year, most recently to +5.4 per cent in the USA and +2.2 per cent in Europe, the price of a troy ounce of gold is currently around $1,808/oz, a good 5 per cent below the level at the beginning of the year.
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.