Steffan Selbach

head of funds of funds business, Dekabank

Based in: Frankfurt am Main, Germany

“The world economy is still in good shape and the earnings season surprised on the upside. Even if we used the high levels stock markets have reached to take some profits we still hold an overweight position in equities. On a regional basis we favour Germany, Euroland and Europe. The US market represents about 24 percent, with additional investments in global emerging markets. In bonds we remain cautious because the trend of increasing yields in Euroland is still intact, and focus on German bonds with a lower duration. We also invest in corporate bonds and European and global emerging market bonds.”