Ngakhale kuti anthu amaona kuti n’zoipa, malonda a fodya akupita patsogolo pamsika wa masheya. Gawoli lakula pafupifupi 4 mwachangu mzaka khumi kuposa index ya S&P 500.
Kodi fodya adzakhala malasha atsopano ? Ngakhale kasamalidwe ka chuma akusiya pang'onopang'ono malasha ku tsoka lake lomvetsa chisoni (mtengo wa malasha akuwotcha ukupitilira kutsika ku Europe, wagawidwa ndi atatu kuyambira 2011), Axa yangolengeza kumene chisankho chake chosiya bizinesi yafodya pogulitsa 1,8 biliyoni. ma euro mu katundu. Isiyanso kugula ma bond kumagulu omwe alipo mderali. Axa amalumikizana ndi dziko la Norway, lomwe thumba lake lachuma linaletsa fodya mu 2010, pazifukwa zamakhalidwe abwino. Pakalipano, njira ya Axa sinatsatidwe ndi zidziwitso zochokera kwa omwe akupikisana nawo, koma wina akhoza kudabwa ngati m'kupita kwa nthawi fodya sadzakhala ndi zochitika zofanana ndi kukana ngati malasha. " Ndizovuta kunena. Mulimonsemo, ili ndilo funso lomwe liyenera kufunsidwa m'tsogolomu mu gawoli. amazindikira Yves Maillot ku Natixis AM.
Umoyo wathanzi
Zowonadi, ngati lingaliroli litha kumveka pazifukwa za thanzi la anthu, makamaka pa gawo la inshuwaransi yomwe ikupezekapo pankhaniyi, zimatsutsana pang'ono potengera chuma cha gawoli potengera momwe ndalama zikuyendera. " Otsatsa malonda angadabwe za kuopsa kwa milandu yokhudzana ndi fodya. Izi zikuwonetsa chikhumbo chofanana ndi cha malasha pambuyo pa COP 21, koma sizilinso kudzipereka komweko kwa osunga ndalama poganizira momwe msika wamasheya ukuyendera. », amazindikira Catherine Garrigues ku Allianz GI, yemwe, « pali mtengo weniweni wa mwayi ".
Chifukwa gawoli likuchita bwino kwambiri pamsika wamasheya. Kuyambira kuchiyambi kwa chaka, ndondomeko ya S & P 500 Fodya yapeza 10,49% ndi 22,64% pa chaka chimodzi, pamene nthawi yomweyo, S & P 500 index yangotenga 2,59% mu 2016 ndipo inataya ngakhale 0,70% pa chaka chimodzi. Kuchita mobwerezabwereza kwa nthawi yayitali, ndikupindula kwapakati pa 229% pazaka khumi kwa Philip Morris, Altria Group ndi Reynolds American, motsutsana ndi 65% pamndandanda waukulu. Ku Ulaya, MSCI Europe Fodya index nayenso patsogolo pa Euro Stoxx 50. Komanso, malinga ndi kafukufuku wa Credit Suisse Research Institute, gawo anaika, pamodzi ndi zakumwa, bwino gawo ntchito mu United States kuyambira... 1900 , ndi phindu la pachaka la 14,6%.
A quasi-udindo
Ntchito yodziwika bwino ngakhale kuti kusuta fodya kwapitirirabe kuchepa ku United States (-4% pafupifupi kwa zaka 10 malinga ndi Barclays), makamaka pokhudzana ndi mpikisano wowonjezereka kuchokera ku ndudu zamagetsi. Kupatula kuti mitengo
asonyeza kulimba mtima komanso kuti opanga atha kupeza malo atsopano, makamaka m'mayiko omwe akutukuka kumene, omwe, malinga ndi Barclays, "gawo lokongola kwambiri ku United States".
Zachiyani ? "Kupatula kulingalira kulikonse kwa thanzi ndi fodya, kuchokera pamalingaliro osavuta azachuma, fodya akuyimira gawo lopanda cyclical ogula. ", akufotokoza Yves Maillot. " Zimapindula ndi kusintha kwanthawi zonse kwa ndalama zapakhomo. Kukula kukachepa m’maiko otukuka, maiko otukuka kumene amalanda, ndi kukwera kwa chiŵerengero cha anthu m’madera ameneŵa. Chiwerengero cha ogula chikuchulukirachulukira ndipo izi zimapindulitsa magawo onse omwe amamwa, kuphatikiza fodya ".
Kuphatikiza apo, gawoli likuwonetsa kuthekera kobwerezabwereza kopanga ndalama. " Izi ndi zigawo zomwe sizimapangitsa kukula kwakukulu, koma zimakhala zokhazikika ndipo zimapangitsa kuti zikhale zotheka kupeza ndalama zambiri. », akupitiriza Yves Maillot. Ndipo kwakanthawi kochepa, pamisika yazachuma, " Chiwongola dzanja chochepa kwambiri chimakomera mabizinesi amakampani omwe amapindula ndikuwoneka bwino". Izi zimawathandiza makamaka kuchita ndondomeko yobwerera kwa eni ake, makamaka ku United States, monga anakumbukira Catherine Garrigues. " Otsatsa malonda amakopeka ndi zokolola za masitolowa, omwe ndi quasi-bond. Ali ndi kukula kokhazikika ndikubweza kwa omwe ali nawo nthawi zonse. Uwu ndi mutu womwe ukuyenda bwino m'misika pakali pano. ".
Pomaliza, ndi gawo lomwe lingapindule ndi kuphatikizika kwapadziko lonse lapansi, monga momwe zimakhalira mowa. Chifukwa ndi gawo lomwe limapindula ndi zopinga zazikulu zolowera, chifukwa cha malamulo, monga maiko omwe akufuna kulimbikitsa kusalowerera ndale. " Izi zimasunga mkhalidwe wampikisano womwe ulipo ", akutsindika Barclays yemwenso amakhulupirira kuti" zoletsa zotsatsa zimapangitsa kuti zikhale zovuta kupanga zatsopano ". Zolepheretsa kulowa, osewera okhazikika omwe amatha kukweza mitengo yawo komanso owolowa manja ndi omwe ali ndi masheya? Mtundu wabwino wamakampani omwe adatchulidwa munthawi yachiwopsezo, ngakhale Yves Maillot azindikira kuti " mbiri yakale ya msika wa fodya sikusintha. Ngati zinthu zazikuluzikulu zomwe zimakonda kugwiritsidwa ntchito ziyenera kupitilirabe, kutsimikizika kwa gawoli kuyeneranso kuganiziridwa. ". Axa anasankha.
gwero : Zomveka
