Opportunities Beyond a Precarious Path

   

We believe the lagging effects of economic tightening by central banks will lead to a further deceleration in growth, characterized by a mild US recession and anemic growth in Europe. With an uncertain economic path ahead, investors can potentially strengthen their portfolios with a series of opportunities.  

  

Investment ideas that could help investors fortify their portfolios

With bond yields back to historical levels, fixed income investments have returned to their traditional role as sources of income.

Careful selection is key to finding equities that could be poised for outperformance.

To seek reduced portfolio risk and increase return potential, investors can extend the geography of their portfolios into both developed and emerging economies. 

Pursue strong alpha and potentially reduce risk by incorporating alternative investments that have low correlation* to existing investments. 

Navigating an uncertain path to growth

As we continue on an uncertain path to growth, we call for caution throughout the second half of 2023. 
View five main takeaways from our midyear investment outlook:

carousel animation

Read Amundi's midyear investment outlook

  • Given low visibility of the economic outlook, quality of equities and bonds is the compass investors can use to navigate this uncertain phase.
  • A central bank pause supports the case for bonds.
  • We recommend investors assess the earnings outlook in the search for opportunities in equities.

   

Additional Insights

 

Bonds can play a role as a diversifier* from equities

We believe intermediate, high-quality bonds remain compelling due to their historically elevated yields, longer duration profile and negative return correlation to equities and other high-risk assets. 

Read our full paper, Why Investors Should Consider a Bond Allocation

  

Pursuing Income

   

With bond yields back to historical levels, fixed income investments may return to their traditional role as sources of potential income and diversification to help manage risk in a portfolio.  Our range of funds can help investors manage the risks associated with fixed income investments as bonds appear ready to resume their important position in portfolios.  

LEARN MORE

 Opportunities in fixed income

 

   

   

   

Quality is the Compass

In the current environment of high levels of inflation and interest rate rises, we believe investors should consider equity investments that seek to provide a unique combination of structural growth potential, quality, stability and relative valuation support. Careful selection is key to finding equities that could be poised for outperformance.

LEARN MORE

   

Opportunities in equities

   

   

   

Going Global with Equities

   

   

After a volatile year in 2022 due to the Ukraine war and rapid inflation, geographic diversity is again a valuable form of diversification. To help reduce portfolio risk and increase return potential, investors can extend the geography of their portfolios into both developed and emerging economies.

LEARN MORE

     

   Extend your reach

    

   

   

   

Consider Low & Uncorrelated Allocations

Investors seeking to strengthen alpha and potentially reduce risk may incorporate alternative investments that have low correlation² to existing investments.  Opportunities such as catastrophe bonds are dependent on extreme weather occurrences, giving them performance that is independent of stocks and fixed income investments. And the pooled financial assets and loans that comprise securitized funds may help investors pursue total return and low correlation to traditional assets. 

LEARN MORE

   

Innovative opportunities

   

*Diversification does not assure a profit or protect against loss.

Before investing, consider the product's investment objectives, risks, charges and expenses. Contact your financial professional or Amundi US for a prospectus or summary prospectus containing this information. Read it carefully. To obtain a free prospectus or summary prospectus and for information on any Pioneer fund, please download it from our  literature section.

Securities offered through Amundi Distributor US, Inc.
60 State Street, Boston, MA 02109
Underwriter of Pioneer mutual funds, Member   SIPC.   

Not FDIC insured | May lose value | No bank guarantee Amundi Asset Management US, Inc.  Form CRS         Amundi Distributor US, Inc.  Form CRS 

EXP-2024-09-18-ADID-3117622-1Y-T