Europe’s Biggest Asset Manager Is Looking to Buy Dips After Missing Out on Stocks Rally
- Amundi’s Defend says stock pullback will be a chance to buy
- Seeks easing monetary policy, profit growth to boost exposure
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Europe’s biggest asset manager is finally primed to buy stocks in developed markets after sitting out on a rally of more than 30%.
Amundi SA, with more than $2.1 trillion under management, upgraded its view on equities to neutral last month after the looming risk of a recession prompted a downgrade in January 2023. While it no longer expects a deep contraction, the money manager is waiting for valuations to drop before increasing its exposure further, said Monica Defend, head of the Amundi Investment Institute.