Kurt Kara: Q3 2023 – US, China and a single portfolio change

Kurt Kara and the other portfolio managers give a quarterly update on the different portfolios in Maj Invest, including the Value Aktier fund.
The focus of the value equity fund is that the Fed has continued to raise its key interest rate on the back of a strong labor market and expectation of increasingly higher inflation. In addition, China is being dragged forward, where the government has announced several bailout packages to support the country’s ailing economy.
Both macro trends put downward pressure on the stock market.

During the third quarter, a single reorganisation was made. Thus, the American developer of computer games Activision has been completely sold out of the portfolio. The proceeds have been used to establish a new position in the US holding company Berkshire Hathaway […].

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