Protecting and enhancing your wealth

金利は歴史的な低水準にある一方で、インフレへの懸念も高まっており、今後どのように資産を守り、増やしていけばよいのでしょうか。 短期的には金利が多少上昇しても、中長期的な観点では金利低下のトレンドが継続することが予想されます。 アリアンツ・グローバル・インベスターズでは、このような見通しを考慮してポートフォリオを見直すことが重要だと考えています。

Logo: Don't downsize your dreams

Why are rates and yields set to stay low for even longer?

金利や利回りは過去数十年間、低下し続けています。

40年以上にわたって国債への強気相場が続き、価格は上昇し、利回りは低下してきました。その間、先進国の政策金利も低下してきました。今後においても、経済成長の鈍化やインフレ期待の低下などの要因によって、金利や利回りは長期的な平均値よりも低い水準で推移することが予想されます。

米国金利

Changes in the global economy are contributing to a lower-for-even-longer environment

より多くの資金がより少ない投資機会を追求すると、価格は上昇、利回りは低下します。
そのため、よりお金に働いてもらう方法を考えなければなりません。

世界の人口は着実に高齢化しており、貯蓄は増えていますが、投資先は減っています...

サービス産業への移行は、設備投資の必要性が低いことも理由の一つです...

生産性向上の遅れは、経済の拡大が抑制される要因となります…

Keep your dreams on track

低金利の昨今、多くの投資家は、インフレが進む中でより確実な収入を得ることを必要としています。しかし、どのように分散してリスクを管理すればよいのでしょうか。ここでは3つのアイデアをご紹介します。

資産の維持を目的とした資産(安全性の高い債券やキャッシュオルタナティブなど)と、成長性とインカムを目的とした資産(新興国の債券や株式など)の2つのグループに分けて考えることも重要です。マルチ・アセット・ソリューションは、それぞれの資産グループの要素を組み合わせて、さまざまな成果を目指すことができます。
市場は急速に変化し、それに応じて最適な資産の組み合わせも変化します。そのため、ポートフォリオのポジショニングには、非常にダイナミックなアプローチが求められます。分散投資の効果を維持し、機動的なリスク管理を行うために、経済状況の変化に応じて資産配分を迅速に変更するなど、より積極的な方法を模索してみてはいかがでしょうか。

時間の経過とともに、伝統的な株式/債券ポートフォリオの多くは、株式の比率を高める傾向にあります。また、より積極的なポートフォリオでは、株式のリスクに対して”ヘッジ”を行うことで株式の比率を100%にしているものもあり、機関投資家においては、より高い資産の成長と追加的な利回り獲得を求めてプライベート・マーケットの資産をポートフォリオに組み入れることを検討しているかもしれません。

過去40年間続いていたゼロ金利に向かう動きは、継続することが予想されます。アリアンツ・グローバル・インベスターズは、このような新たな展望の中で、投資家の皆様がポートフォリオを見直すお手伝いをしています。

続きを読む。

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