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Storebrand is buying up equities: "In six months, we won't necessarily be talking about the coronavirus"

The coronavirus' impact on the stock market will be short-lived, predicts Storebrand Asset Management's head of asset allocation.

Photo: Storebrand/PR

"We believe the stock market will be normalized. The economic effects are obvious now, but we believe this is a short-term setback and expect activity to pick up. In six months, we wont necessarily be talking about the coronavirus," says Olav Chen, senior portfolio manager and head of allocation and global interest rates at Storebrand Asset Management, to Norwegian business newspaper Dagens Næringsliv.

Until last week, his portfolios had the neutral allocation in the stock market, the bond market and the money market. But in recent days, Storebrand has chosen to buy up more equities and cut down on the money market allocation.

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