Alex Borer

senior portfolio manager, Investment Management Balanced, LGT Capital Management

Based in: Pfäffikon, Switzerland

“Long dated high quality government bonds and equity markets had a divergent development over the last four months. While bond yields increased significantly, equity markets continued their uptrend. Global macro data surprises to the upside since the beginning of November last year. An expansive monetary policy, combined with an attractive valuation and prudent investor positioning, call for further upside in risk assets. Given our constructive view on the markets, we increase the exposure to Japanese equities and goldmines and reduce inflation linked bonds after real yields have decreased significantly.”