M&G rota sus fondos hacia Reino Unido, Japón y emergentes para el cierre de año

British asset manager M&G is shifting its funds towards the United Kingdom, Japan, and emerging markets as the year draws to a close, according to a recent report. The firm is selective in its investments, focusing on companies that generate strong free cash flow, price-setting power, and solid balance sheets. M&G emphasizes low valuations in its three preferred regions, with the UK being particularly attractive, while Japan is noted for its structural policy turnaround.

In the Asia-Pacific region, the firm looks to diversify before following the crowd into tech and AI stocks. Danny Hughes, M&G's Global Variable Income Investment Director, believes the current environment favors individual stock selection over mass-hyperconcentrated indexes. The strength of corporate results is crucial for M&G to remain positive about the stock market as the year ends.

The firm expects to compensate for rising interest rates, increased energy prices, and political instability. However, M&G attributes most of this year's stock market profits to earnings and dividends, as valuation multiples have declined to recession levels. In the hybrid space, M&G supports its portfolios with convertible bonds, issuing over $203 billion this year, with more than 53% tied to AI.

This allows investors to negotiate higher coupons and credit protection. Stuart Canning's multi-asset strategy has increased exposure to US and UK sovereign debt, viewing high yields as an attractive compensation and a defensive cushion against potential market disruptions.