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ETF-Strategie: „Liquiditätshausse nicht am Ende“ Nach Wochen eines sogenannten Sägezahnmarktes mit heftigen Schwankungen sind die Erwartungen für das zweite Halbjahr oft negativ. Nicht so bei Robert Halver, Leiter der Kapitalmarktanalyse der Baader Bank.
„Auch wenn jetzt die Zinsen in den USA erhöht wurden und die EZB ihre Anleihekäufe reduziert“, so Robert Halver, „bleibt die Geldpolitik immer noch expansiv.“ Die Notenbanken könnten sich nichts anderes leisten, vor allem nicht die EZB, da die Wirtschaft in Europa schwächelt. Für ihn ist deshalb „die Liquiditätshausse nicht am Ende“, auch wenn die Ängste zunehmen. Entsprechend positiv sind seine Prognosen für das zweite Halbjahr. Die Turbulenzen in manchen Schwellenländern wie Brasilien oder Türkei sieht er nicht als generelles Problem für die Emerging Markets: „Jetzt trennt sich die Spreu vom Weizen, insgesamt gibt es genug Staaten, die ihre Hausaufgaben weiterhin gut machen.“
Für Thomas Meyer zu Drewer, Leiter des ETF-Geschäfts der Commerzbank unter dem Markennamen ComStage, hat sich auch beim Nettomittelaufkommen gezeigt, dass die Anleger sehr differenziert reagieren. „Italien führt zur Zurückhaltung in Europa, aber die USA, Technologie und Rohstoffe sind weiterhin stark gefragt.“
Markus Jordan ist Gründer und Herausgeber des Extra-Magazins sowie Betreiber des Anlegerportals extraETF.com. Mit über 30 Jahren Erfahrung ist er ein ausgewiesener Experte im Bereich Finanzen und Geldanlage mit Schwerpunkten auf ETFs, Robo-Advisors und digitale Bankdienstleistungen.