Overseas investors, who own 16% of the U.S. corporate equity market, bought $187 billion of shares during the three months through March, making them the biggest buyers of U.S. stocks during the first quarter of the year. Net corporate holdings increased by $129 billion and household purchases, including hedge funds, rose by $7 billion while pension funds and mutual funds sold a net $119 billion and $66 billion, respectively.
“Foreign investors will continue to be net buyers of U.S. stocks this year and will replace corporations as the largest source of equity demand (+$300 billion),” according to Goldman Sachs’ Portfolio Strategy Research team led by David Kostin. Goldman Sachs predicts net corporate equity demand will drop by 80% in 2020 to $100 billion as buybacks are suspended.
Source: Federal Reserve Board and Goldman Sachs Global Investment Research
ING Private Portfolio Management is the wealth management arm of ING Private Banking in Belgium. They are global investors and their investment approach is long-term oriented. They use various instruments and model portfolios according to the client’s risk appetite as well as tailor-made portfolios. Assets under management amount to $40 billion (ING Private Banking as a group), of which approximately $11-12 billion is managed in Belgium.
Moudy El Khodr is Head of Portfolio Management, South Region at ING Private Bank. Until 2018 he was at ING Investment Management (now NN Investment Partners) managing one of Europe’s largest US Equity Income funds. He re-joined ING Investment in 2014 after three years at Petercam where he had managed a similar strategy. From 2001 to 2011 he worked at ING Investment Management in Brussels and The Hague. He also worked at BGL (Banque Générale du Luxembourg) in asset management (1998-2001). Moudy started his career at Euronext Brussels in 1998. He graduated “cum laude” from Université Catholique de Louvain (UCL) with a Master in Economics, holds a CEFA certification and a Certificate in Risk Management from ICHEC in Brussels.
Where does ING Private Banking fit within the investment management sector in Belgium?