We are pleased to introduce The Investment Intelligence Podcast, where experts discuss all things investing, from recent market developments, to strategy, sustainable investing, asset allocation, risk management and more.
Stefan Hofrichter is AllianzGI’s Head of Economics & Strategy since 2011. Stefan and his team are responsible for advising clients, in-house investment professionals and sales colleagues on global economic trends and asset allocation. He chairs the firm’s Global Investment Council, which is responsible for shaping the mid-term global house view on financial markets, and is a member of the Global Fundamental Multi-Asset Investment Committee. In 2016, Stefan was appointed to ESMA’s Group of Economic Advisers. He lectures security analysis and financial markets at Wiesbaden Business School and is member of the Academic Council of eabh (European Association of Banking and Financial History).
Stefan joined the firm in 1996 as an equity portfolio manager and assumed the role of economist and strategist in 1998. Between 2004 and 2010 he also managed absolute return and alpha-porting multi-asset mandates, as well as traditional Global and European balanced funds - one of which won a Lipper award for two consecutive years.
Stefan holds a degree in Economics from the University of Konstanz and in Business Administration from the University of Applied Sciences of the Deutsche Bundesbank, Hachenburg and is a CFA Charterholder.
Listen to Global Head of Economics Stefan Hofrichter discuss his midyear global economic outlook, including his views on growth, inflation, productivity, labor shortages, supply issues, demographics, and more. Also: Stefan contextualizes his forecasts in terms of portfolio positioning and available opportunities in the current fluid environment.
US stocks are highly valued, and our 10-step checklist suggests they’re close to bubble territory. Non-US equities offer better value, but we still don’t think investors should drastically pare back their US holdings at this time.
As the world battles the Covid-19 pandemic, responsible investors can help make the economic recovery sustainable and inclusive by engaging with the right stakeholders. A PRI working group has developed recommendations for a policy-engagement framework to help guide the investment community’s actions. Here are highlights of the group’s findings.