italyit
Turbulence ahead

Turbulence ahead

Investment outlook 2019
Download the full publication

The bull market has caused a number of noticeable divergences within asset classes. We highlight some of them in this outlook, as we think they will offer good investment opportunities in 2019.


  • Growthversusvalue stocks

  • Developedversusemerging markets

  • USversusthe rest of the world

In an environment where the economic outlook looks promising, the warning ‘turbulence ahead’ seems out of place. But we see clouds on the horizon, including:

  • Fed rate hiking
  • Trade wars
  • Mounting inflationary risks

We don’t expect them to derail the economy just yet, as growth is still too strong. But we do expect concerns to grow as time progresses.

In this outlook we look at the implications for the major asset classes, as well as the opportunities these ‘clouds’ represent.
Peter van der Welle, strategist

The bright economic picture is expected to be overshadowed by concerns that this long bull market will soon end. Fueling these fears are issues such as rising interest rates, protectionism, Italy and Brexit. Investors would be well-advised to prepare for these concerns becoming reality.

Peter van der Welle, strategist

Special themes

Ten things that might move the markets in 2019

Special themes

Ten things that might move the markets in 2019

Positioning for a shift towards value stocks
Positioning for a shift towards value stocks
We think now is a very good time for investors to introduce value stocks to their portfolios.
20-11-2018 | Visione
Two European headaches: Brexit and Italy
Two European headaches: Brexit and Italy
Drawing a line under both of these situations will help European equities deliver improved relative performance within a global equity portfolio, and banks will play a key role in this.
06-12-2018 | Visione
Leveraging new technologies in finance
Leveraging new technologies in finance
We currently see a number of specific developments that make fintech an interesting investment theme for next year.
27-11-2018 | Visione
Electric vehicles coming of age
Electric vehicles coming of age
In the coming years, the global automotive industry will go through its most radical change as vehicle electrification and changing consumer preferences challenge existing business models.
13-12-2018 | Visione
Graph of the week
Graph of the week

Rapid increase in number of lawsuits against fossil fuel companies

15-01-2021 | Visione
Blokland’s daily sketch
Blokland’s daily sketch

Stimulus: iconen-vinkje.png

15-01-2021 | Daily sketch
Climate risk and portfolio decarbonization have become center stage
Climate risk and portfolio decarbonization have become center stage
Insurance companies are directly exposed to climate risk, and face increasingly tighter scrutiny from regulators regarding its impact on their balance sheets.
14-01-2021 | Intervista
Podcast: Challenge the consensus
Podcast: Challenge the consensus
Keep questioning the consensus in 2021, do your research and stay contrarian, says Victor Verberk, Robeco’s CIO Fixed Income in our latest podcast episode.
14-01-2021 | Podcast

Leave your details and download the full 2019 investment outlook

This report is not available to users, such as US persons, from countries in which the offering of foreign financial services is not permitted.

Your details will not be shared with third parties. This information is intended exclusively for professional investors. All requests are checked.

Logo

Disclaimer

Confermo di essere un cliente professionale

Le informazioni e le opinioni contenute in questa sezione del Sito cui sta accedendo sono destinate esclusivamente a Clienti Professionali come definiti dal Regolamento Consob n. 16190 del 29 ottobre 2007 (articolo 26 e Allegato 3) e dalla Direttiva CE n. 2004/39 (Allegato II), e sono concepite ad uso esclusivo di tali categorie di soggetti. Ne è vietata la divulgazione, anche solo parziale.

Al fine di accedere a tale sezione riservata, si prega di confermare di essere un  Cliente Professionale, declinando Robeco qualsivoglia responsabilità in caso di accesso effettuato da una persona che non sia un cliente professionale.

In ogni caso, le informazioni e le opinioni ivi contenute non costituiscono un'offerta o una sollecitazione all'investimento e non costituiscono una raccomandazione o consiglio, anche di carattere fiscale, o un'offerta, finalizzate all'investimento, e non devono in alcun caso essere interpretate come tali.

Prima di  ogni investimento, per una descrizione dettagliata delle caratteristiche, dei rischi e degli oneri connessi, si raccomanda di esaminare il Prospetto, i KIIDs delle classi autorizzate per la commercializzazione in Italia, la relazione annuale o semestrale e lo Statuto, disponibili sul presente Sito o presso i collocatori.
L’investimento in prodotti finanziari è soggetto a fluttuazioni, con conseguente variazione al rialzo o al ribasso dei prezzi, ed è possibile che non si riesca a recuperare l'importo originariamente investito.

Rifiuto