Steffan Selbach

“Despite weaker economic figures, we expect the global economic upswing to continue. The current burden resulting from the Greek deficit is not expected to be sustained. Bolstered by low interest rates worldwide, companies should be able to meet their expected revenues which should lead to higher equity prices. Given this background, the equity portion is currently on a balanced level. In fixed income, the decrease in interest rates of the Bundesanleihen was used to further shorten the duration. We have added boundary areas of the fixed income universe such as corporate bonds and papers from converging markets.”