Europe’s Biggest Asset Manager Is Looking to Buy Dips After Missing Out on Stocks Rally
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Amundi SA, Europe's biggest asset manager with over $2.1 trillion under management, is upgrading its view on equities to neutral and is looking to buy stocks in developed markets after sitting out on a rally of more than 30%. The money manager is waiting for valuations to drop before increasing its exposure further. Easing monetary policy and strong corporate earnings growth would be catalysts to increase allocation. Amundi remains selective on stocks and sees any correction in the markets as a buy opportunity. The S&P 500 Index is trading at nearly 21-times forward earnings, well above the long-term average of 16. Amundi has a balanced stance toward the US market and likes defensive stocks.

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https://www.bloomberg.com/news/articles/2024-04-04/stocks-amundi-is-looking-to-buy-dips-after-missing-out-on-rally