Die besten Money Market EUR Aktienfonds - Seite 2

Dimitri Andraos, Head of Fixed Income & Credit, "Swiss Life Funds (F) Money Market Euro I" (29.11.2010): "The ECB should keep its refinancing rate at 1%. However, we see room for European 10 year yields to rise (by 50 bps maximum in the next 12-18 months). As for the US, our forecast points to a tightening by the Federal Reserve at the end of 2011, bringing Fed Funds to 0.50%. 10 year Treasuries should also drop and yields rise by almost 100 bps."

Dominique Leroy, Portfolio Manager des "BNP Paribas InstiCash EUR" (01.12.2010): "Based on our expectations, there should be no change on the refi rate in the medium term. The latter should remain at his current level, which is 100 basis points, in the next 18 months. However, we believe that the EONIA will progressively converge towards the refi rate due to the increase of short term liquidities demand in the eurozone."

e-fundresearch: "Erwarten Sie deflationäre oder inflationäre Entwicklungen in Europa in den nächsten 12 Monaten?"

Herbert Steindorfer, Fondsmanager des "ESPA CASH EURO-PLUS EUR A" (01.12.2010): "Es finden sich genügend Argumente für eine deflationäre wie auch für eine inflatioänere Entwicklung. Im Wesentlichen erwarte ich einen leichten Rückgang der Inflation, also eine disinflationär Entwicklung."

Karl Halsegger, Senior Fund Manager des "RINGTURM Euro Cash Plus T" (30.11.2010): "Die Gefahr einer Deflation ist wesentlich geringer geworden. Mit großer Wahrscheinlichkeit wird sich die Euro-Gesamtinflationsrate in der Nähe des EZB-Stabilitätsziels von 2 % bewegen Es wird aber entsprechend der konjunkturellen Entwicklung erhebliche regionale Unterscheide geben. Vergrößert hat sich hingegen das latente Inflationspotenzial durch die umfangreichen Staatsanleihenkäufe der großen Notenbanken. Dieses könnte z. B. durch externe Schocks ausgelöst werden."

Johnny De Buysscher, Portfoliomanager des "Petercam Liquidity EUR Cap" (03.12.2010): "Today’s inflation in Europe has risen to levels close to 2%, which is due to different sources of inflation: soft commodities, hard commodities, Chinese prices which do no longer go down, and utilisation rates which are back to neutral levels (coming from deflationary levels). We expect therefore inflation in Europe to fluctuate around 1.5%-2% for a certain period of time. Besides, core inflation is still low, but is slowly rising again. It will however be difficult to handle inflation in the current environment. The unconventional measures, used massively by the Central Banks, are raising inflationary fears. This will be highly dependent on the timing and type of exit strategy these latter will adopt - a delicate exercise. On the one hand, a premature exit could nip the early economic recovery in the bud. On the other hand, the prolonged maintenance of such a policy could lead to skyrocketing inflation. The Central banks have now more tools at their disposal but they still have to prove their ability to use the unconventional measures appropriately."