Citywire - For Professional Investors

Register to get unlimited access to all of Citywire’s fund manager database. Registration is free and only takes a minute.

The no go zones: top managers on what to avoid in 2014

The no go zones: top managers on what to avoid in 2014

As investors prepare for the new challenges and opportunities in the year ahead, Citywire Global has canvassed which areas fund managers will also be avoiding.

Here we have collated the views of five leading managers from across equities and bonds to find out what their ‘no go’ zones for 2014.

Chris Bullock, Henderson Global Investors

We’ll be avoiding the 'weakest link' issuers - as conditions get hotter, deal quality will inevitably drop, and there will be some new issues to avoid as the year progresses.

André Köttner, DeAWM

We are avoiding firms that rely heavily on capital and where there is no organic growth. We are underweight telecoms and utilities that are also high in debt.

Mark Dowding, BlueBay

I plan to avoid French bonds next year. There are other sovereigns such as Belgium I see as a better credit. While no collapse in France OATs should be expected any time soon, the country is a structurally deteriorating credit which trades at a tight spread versus Bunds.

Carsten Hilck, Union Investment

We would continue to avoid banks and also utilities due to lack of political support the latter sector has.

Andreas Zöllinger, BlackRock

We’re still avoiding the highly cyclical sectors, and sectors with very low dividend visibility - think about the utilities sector, large parts of the banks, the auto sector, the mining sector. None of these are really looking attractive to us from a dividend perspective.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Events
  • Citywire Asia Bangkok Retreat 2018: day one images

    Citywire Asia Bangkok Retreat 2018: day one images

  • Citywire Asia Bangkok Retreat 2018: day two images

    Citywire Asia Bangkok Retreat 2018: day two images

  • Citywire Asia Taipei Retreat 2017: day two images

    Citywire Asia Taipei Retreat 2017: day two images

  • Citywire Asia Bangkok Retreat 2017: day one images

    Citywire Asia Bangkok Retreat 2017: day one images

  • Citywire Asia Bangkok Retreat 2017: day two images

    Citywire Asia Bangkok Retreat 2017: day two images

  • Images from Citywire Thailand Forum 2017

    Images from Citywire Thailand Forum 2017

  • Citywire Asia Awards 2017: images from Singapore

    Citywire Asia Awards 2017: images from Singapore

  • Citywire Asia Awards 2017: images from Hong Kong

    Citywire Asia Awards 2017: images from Hong Kong

  • Citywire Asia Taipei Retreat 2017: day one images

    Citywire Asia Taipei Retreat 2017: day one images

  • Citywire Asia Retreat in Bangkok: day two images

    Citywire Asia Retreat in Bangkok: day two images

  • Bangkok buzz: day 1 images from our Asia Retreat

    Bangkok buzz: day 1 images from our Asia Retreat

  • Images from Citywire's Thailand Forum

    Images from Citywire's Thailand Forum

  • Pictures from Citywire's Hong Kong forum

    Pictures from Citywire's Hong Kong forum

  • Images from our Citywire Singapore Forum

    Images from our Citywire Singapore Forum