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CityWire - By Jessica Beard
19 Dec, 2016
CIO Savary reveals how to play reflation
In this video, Francois Savary, CIO at Geneva-based Prime Partners, told Citywire Switzerland about the best way to play the reflation theme going into the new year.
He explained that investors shouldn't put too much hope in the reflation story and that it is premature to move a lot of assets into equities as many investors are doing.
On sovereign bonds, he said that if there are signs there will be reflation, he doesn't see any reasons for owning government debt for now.
Elsewhere in bonds, there is less and less value in the investment grade segment of corporate debt, he said, and investors should go for the high yield segment because there is less duration risk.
He added that investors should avoid having too much duration risk in their portfolio.
Savary also discussed where he sees opportunities in 2017, including in defensive stocks and emerging equities.