State Street Global Advisors: Aktienmarkt Ausblick Q4: Equity, Sector & Smart Beta Compass

Aktienmarkt Ausblick Q4: Divergenzen navigieren

Divergenz ist das Schlagwort für das 4. Quartal bei globalen Aktien. Ausgeprägte Unterschiede zwischen Regionen, Sektoren und Anlagestilen prägen die Investorenentscheidungen. Unser Aktienmarkt Ausblick für das 4. Quartal beschreibt bestehende Unterschiede und daraus resultierende Allokationsmöglichkeiten.

Kernthemen für das 4. Quartal:

1. Regionale Unterschiede: Wiederaufschwung der USA, Europa hinkt hinterher, Schwellenländer erholen sich

• Der Broad Equity Compass beschreibt die Rückkehr des Exzeptionalismus in den USA und fragt, ob die Rally bei den Large-Caps eine Erholung der Small- und Mid-Caps auslösen wird. Unsere Analyse thematisiert darüber hinaus die Chancen bei europäischen Small-Caps und untersucht die schnelle Erholung der Schwellenländer.

2. Sektor-Divergenz: Aschenputtel und die Glorreichen 7

• Der Sector Equity Compass erklärt, warum die Erholung des US-Technologiesektors über die Glorreichen 7 hinausgeht, beschreibt die Attraktivität eines Aschenputtel-Sektors - das Gesundheitswesen - sowie die Attraktivität europäischer Industrie- und US-amerikanischer Finanzwerte.

3. Stildivergenz: Aristokraten dominieren

• Der Smart Beta Compass thematisiert den Investmentcase von Qualitätsaristokraten - Unternehmen mit starkem Free Cashflow und robusten Bilanzen. Ausserdem werden die divergierenden Performancetreiber in Europa und den USA untersucht.

All dies sowie unsere proprietäre Analyse des Anlegerverhaltens und der Mittelflüsse finden Sie in unserem Aktienmarkt Ausblick Q4.

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