Pictet | Frankfurt, 09.06.2016.
“Economic momentum is slowing worldwide at a time when there is political upheaval in Europe and growing uncertainty over the direction of US and Chinese monetary policy,” says Pictet Asset Management’s chief strategist Luca Paolini.
“Against this volatile backdrop, we have cut our equity exposure to neutral from overweight. We upgrade gold, a defensive asset that tends to do well in volatile times, to overweight from neutral. We remain underweight in bonds. Overall, we have reduced exposure to risky assets.