Blot fem selskaber står bag den imponerende kursstigning i USA under coronakrisen, alle high-tech, men det udgør også nu – hvor kurserne måske er toppet – en risiko for investorerne, påpeger Goldman Sachs. Det gælder især for institutionelle investorer. Hvad skal man nu?
The S&P 500’s incredible recovery from its trough in March has been fueled by outperformance of the top five names. To date, these companies have yielded +34% in returns. They reflect companies with strong business models, high margins, and solid balance sheets. Even still, a high degree of market concentration may introduce operational risks for mutual fund managers constrained by holding limitations.
Source:GSAM. As of September 10, 2020