Zu At the beginning of 2021, asset managers are showing great optimism about the economic upturn after the Corona crisis. In a survey that this newspaper has now carried out for the sixteenth time among eleven independent asset managers, most of them currently only consider unusually low cash holdings to be necessary. In their answers to the question of how a 30 and a 60 year old investor should currently divide their assets into different asset classes, asset managers are quite sure: don’t wait, but invest.
Most asset managers prefer stocks to a greater extent than ever before, so they have increased their already high stock quotas in customer portfolios compared to the previous year. Joachim Paul Schäfer, partner of the asset manager PSM, sets a counterpoint: “We are seeing a number of historical developments and exaggerations that could, at least in the near future, lead to a violent reaction on the stock markets,” warns Schäfer. After many stock indices around the world climbed to highs this week, PSM wants to wait for a correction. “We expect opportunities to buy stocks in the course of the year in order to top up our low quota and at the same time to reduce short-term bonds, which only serve as a liquidity substitute,” says Schäfer.