Mandarine Gestion’s Marc Renaud, whose Paris-based equity fund lost almost twice as much as the wider market last year because of investments in banks, is sticking to his strategy and expects lenders from BNP Paribas SA to Intesa Sanpaolo SpA to be “winners” in 2012.
When Metro AG Chief Executive Officer Olaf Koch halted talks to sell the Kaufhof department- store chain this month, he did little to persuade investors they should buy a stock that’s as cheap as it’s been in three years.
Frankfurt lawyer Mareike Gruhn spends at least 500 euros ($610) a month buying designer products from luxury labels including Jimmy Choo and Prada. Retailers such as Kaufhof and Karstadt never see a dime of it.
The European Central Bank, which today offered lenders a second round of unlimited loans, will help some bank stocks double this year, say top fund managers who successfully bet on the biggest bank rally since 2009.
Skandia Investment Group is seeing growing investor interest in emerging-market stocks, prompting the company to consider creating a developing-nation version of its European Best Ideas Fund to meet that demand, said Lee Freeman-Shor, who manages the fund.