Life below zero – dealing with negative interest rates

The views that our Chief Investment Officer Asoka Wöhrmann expresses in the April issue of the new CIO View carry a lot of weight: He and his colleagues at Deutsche Asset & Wealth Management manage client assets totaling 1.04 trillion euros (as of December 31, 2014).

His nine positions are:

  • China’s growth will not decelerate in 2016.
  • The U.S. Federal Reserve is ready, but not yet willing to change course.
  • Japan’s central bank does not achieve its target inflation rate.
  • Russia ’s economy is shrinking.
  • U.S.- dollar parity with the euro to be reached at the beginning of 2016.
  • Thanks to the ECB’s quantitative easing (QE), periphery bonds remain preferred.
  • A low-interest-rate environment benefits high yield .
  • In a volatile year, the DAX can overshoot our price target.
  • Asset allocation of our balanced model portfolio for clients based in Europe, Middle East & Africa (EMEA):
    Fixed income: 49 %
    Equities: 40 %
    Alternatives: 10 %
    Commodities: 1 %

Also in CIO View:

  • Focus: Life below zero – dealing with negative interest rates. 
  • The big picture: our forecasts until March 2016. 
  • Investment traffic lights: our tactical and strategic view on different asset classes.
  • Portfolio: interview with Stéphane Junod, Regional Chief Investment Officer for Wealth Management. 
  • Alternatives portfolio: interview with Mark G. Roberts – Head of Real Estate Strategy and Research. 

You can also download CIO View on http://www.DeutscheAWM.com. 

For more information please contact:
Carlos Cancino
Press contact Deutsche Asset & Wealth Management Nordic
Mob: 46 768 36 98 73
Epost: carlos.cancino@konsensus.se

Maik Rodewald
Tel. 49 69 910 14553
Epost: maik.rodewald@db.com

Sabina Díaz Duque
Tel: 49 69 910 14177
Epost: sabina.diaz-duque@db.com  

Deutsche Asset & Wealth Management
With EUR 1.04 trillion of assets under management (as of December 31, 2014), Deutsche Asset & Wealth Management¹ is one of the world's leading investment organizations. Deutsche Asset & Wealth Management offers individuals and institutions traditional and alternative investments across all major asset classes. It also provides tailored wealth management solutions and private banking services to high-net-worth individuals and family offices.

¹ Deutsche Asset & Wealth Management is the brand name of the Asset & Wealth Management division of the Deutsche Bank Group. The legal entities offering products or services under the Deutsche Asset & Wealth Management brand are listed in contracts, sales materials and other product information documents.

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