Lobnek Wealth Management
Gianpiero Sturzo, COO at Lobnek Wealth Management, said the firm has been reducing US equity exposure since March, though still remains overweight in US versus Europe.
He also noted that the firm has been entirely absent from emerging markets since November 2017, though that current conditions have encouraged a reconsideration.
He said: 'The cut was mostly related to the fact that we preferred emerging market debt due to currency levels. But, at these levels with most emerging market funds being down 8% to 15% year-to-date, it starts to look very appealing.
'We're looking actively to slowly restart a position in emerging market equities. There's a bit less hype now, which makes it more attractive with our contrarian approach.'
Being out of emerging market equities has also helped the firm avoid volatility, with Sturzo noting that being slightly underweight in equities would present an opportunity to enter the market and return to neutral.
Sturzo also said he believes that in Europe, general expectation of the economic market has been improving and economic activity has been stabilising, potentially presenting opportunities.
'Going forward, I would start to go back to neutral on equities by starting up some emerging market exposure. On a six-month horizon, I would be keen to start something on the financial sector in Europe.'