{"id":2348,"date":"2013-10-30T13:49:51","date_gmt":"2013-10-30T12:49:51","guid":{"rendered":"http:\/\/www.tressis.com\/blog\/?p=2348"},"modified":"2013-10-30T13:49:51","modified_gmt":"2013-10-30T12:49:51","slug":"small-cap","status":"publish","type":"post","link":"https:\/\/www.tressis.com\/ca\/blog\/small-cap\/","title":{"rendered":"Apostar\u00edamos por fondos de compa\u00f1\u00edas Small &#038; Medium Cap europeas"},"content":{"rendered":"<p><iframe title=\"Estrategias de inversi\u00f3n | Apostar\u00edamos por fondos de compa\u00f1\u00edas Small &amp; Medium Cap europeas\" width=\"960\" height=\"720\" src=\"https:\/\/www.youtube.com\/embed\/fMd_420UAAU?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe><\/p>\n<p><!--more--><\/p>\n<p>Estamos viendo es una rotaci\u00f3n progresiva hacia activos de renta variable, ya que la renta fija ven\u00eda de dar retornos muy fuertes desde 2012. Adem\u00e1s, todo el entorno macro y los factores de incertidumbre pol\u00edtica parece que empiezan a mejorar, lo que hace que los inversores sean m\u00e1s propensos a aumentar el riesgo en las carteras. Evidentemente, las bolsas han corrido fuertemente estos meses y les vendr\u00eda bien un respiro, pero ser\u00eda un respiro sano y todo vendr\u00eda a favor de un crecimiento futuro.<\/p>\n<p>Es complicado determinar en qu\u00e9 momento la bolsa est\u00e1 cara o barata. Lo que s\u00ed es cierto es que <strong>Wall Street est\u00e1 a unos ratios PER similares a los de 2007<\/strong>, pero la situaci\u00f3n econ\u00f3mica es muy diferente. Los balances de las compa\u00f1\u00edas han mejorado much\u00edsimo, ya no hay tanta incertidumbre pol\u00edtica sobre el tapering \u2013se espera que se retrase al pr\u00f3ximo a\u00f1o por el nombramiento de Yellen al frente de la Fed-.<br \/>\nHay que tener en cuenta que la renta variable americana es un activo importante en todas las carteras por la diversificaci\u00f3n. Los clientes que tengan bolsa estadounidense deber\u00edan mantenerla y aprovechar los recortes para incrementar posiciones.<\/p>\n<p>La <strong>cartera de fondos para perfil arriesgado recomendada <\/strong>por Tressis es la que mayor rentabilidad ha dado este a\u00f1o (versus perfil moderado y conservador), ya que la renta variable ha sido el mejor activo. En cambio, la renta fija no creemos que vaya a correr demasiado. La cartera recomendada de perfil conservador ha dado poca rentabilidad porque ya sab\u00edamos que la renta variable iba a ser un activo complicado este a\u00f1o y, hemos intentado estar fuera de riesgos de tipos de inter\u00e9s.<\/p>\n<p>En <strong>Europa <\/strong>est\u00e1 cambiando mucho el sentimiento y est\u00e1 entrando mucho flujo de capital de todas partes del mundo. Se est\u00e1n solucionando los problemas pol\u00edticos y todo da pie a que la situaci\u00f3n del Continente haya mejorado mucho, de hecho, los indicadores econ\u00f3micos est\u00e1n en zona de expansi\u00f3n. Todo ello apunta a una progresiva y ligera recuperaci\u00f3n.<\/p>\n<p>Europa es un buen activo en donde estar, incluso de cara a posibles actuaciones de bancos centrales apoyando a la liquidez. Se podr\u00eda apostar por fondos que invierten en compa\u00f1\u00edas de peque\u00f1a y mediana capitalizaci\u00f3n.<\/p>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7],"tags":[],"class_list":["post-2348","post","type-post","status-publish","format-standard","hentry","category-estrategias"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Apostar\u00edamos por fondos de compa\u00f1\u00edas Small &amp; Medium Cap europeas<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.tressis.com\/ca\/blog\/small-cap\/\" \/>\n<meta property=\"og:locale\" content=\"ca_ES\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Apostar\u00edamos por fondos de compa\u00f1\u00edas Small &amp; 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