Blackrock strategist Martin Lück on investment strategies

2023-06-29 19:24:08

Blackrock capital market strategist Martin Lück Image: Manuel Debus

Corona, the green transformation and the energy crisis have fundamentally changed investment strategies, says Blackrock capital market strategist Martin Lück. Stocks and bonds were no longer enough today.

Investors have to adapt to new times. “We have a new investment regime,” says Martin Lück, head of capital market strategy for the DACH region and Eastern Europe at the world’s largest investment manager, Blackrock, in an interview with the FAZ. This new regime is strongly influenced by climate change and the Russian war of aggression. That “triggered strong supply distortions”. The classic instruments of anti-cyclical economic policy would simply no longer have worked. “The last time we had this phenomenon of a shortage of supply was in the 1970s.” This was mainly driven by the energy crisis and had a strong impact on the depot.

New strategy required

Inken Schoenauer

Editor in business, responsible for the financial market.

Essentially, the asset portfolio consisted of stocks and bonds. As is well known, both asset classes lost in the past year. “2022 was not an outlier year, we are experiencing structural changes that are shaped not only by geopolitical length but also by climate change and demographics.” The consequence could only be: “Investors have to reposition themselves with their strategy.” How? “We have to live with higher volatility.” This inevitably leads to questioning one’s own portfolio more often.