Defeat for Marine Le Pen in the French election on Sunday would boost risk appetite generally, say fund managers. But US equities are widely viewed as overvalued.
Most believe victory for National Front leader Marine Le Pen in the French election would have a sharp negative impact on Asian assets. But some take a rather different view.
Investment heads at APG, Credit Suisse and DBS voice doubts about the sustainability of the US stock rally, with American equities now widely viewed as overvalued.
The €440 billion Dutch pension fund manager is still keen on private markets despite falling illiquidity premiums, and its CIO sees Asia as a fertile market for such investments.
An end to the Volcker Rule, part of the US Dodd-Frank Act, could drive flows into alternative assets in Asia. But a return to pre-2008 levels of investment by US banks is seen as unlikely.
Fund managers are under growing pressure to reduce fees, a trend reinforced by the rise of flows into passive strategies and the low returns achieved in recent years, says a new report.