Feb. 5 at 4:38 PM
$GDX $GLD $JNUG $SLV $B
❌Amundi, Europe's largest asset manager with
$2.4 Trillion in AUM, will reduce exposure to the U.S. over the next 12 months❌
The firm pointed to a weakening U.S. dollar, geopolitical uncertainty, and market volatility, rather than any single short-term tactical reason. Clients are apparently seeking safety away from concentrated U.S. exposure, especially amid macro policy shifts.
Other large investors, including hedge funds, have also trimmed North American allocations recently because of ongoing U.S. policy uncertainty, a declining dollar, and weaker performance of some large U.S. tech stocks.
These conditions overlap w/some consequences of nominal-growth strategies, such as heavy reliance on inflation, asset price strength w/out broad underlying confidence, & a perception of rising risk. The decision is fundamentally a capital allocation choice driven by risk management, currency concerns, & diversification strategy.
https://www.ft.com/content/20d0d30f-c36d-4839-ba56-351327b7410f
