AMWatch

Drop this asset class, says CIO at Danske Bank Wealth Management

There is one specific sector that investors should steer clear of in the present environment, according to the chief investment officer of Danske Bank's Wealth Management division.

The asset class to avoid right now is US high yield, Danske Wealth Management’s Chief Investment Officer Anders Svennesen tells Citywire Selector.

When the professional investor news service asked him about his latest allocation changes, he described the US high-yield sector as generally too expensive. Current prices simply do not compensate buyers for the underlying default risk in US corporates, according to the CIO.

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