Great Wall of China

Deutsche Bank HVP adds China exposure, cuts dividend and gold

Since the launch of Deutsche Bank’s House View portfolio (HVP) on 2 October, the US equity market (SPY) has dropped by 2.0 per cent, the broad US fixed income market (BND) has been nearly flat at +0.1 per cent, and the commodity market (DBC) has lost 2.89 per cent.

Deutsche Bank’s HVP is down by 0.79 per cent since its launch. However this is still higher than the equity market and the company’s multi asset class benchmark, which are down by 2.0 per cent and 1.55 per cent, respectively.

Deutsche Bank has added a new satellite long position on China (MCHI) with a weight of 10 per cent. The weight for this new position will be funded by reducing the target weight for the US dividend and the gold positions by five per cent each.

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