FILE PHOTO: Pascal Blanque, Chief Investment Officer of Amundi, attends the Euronext stock exchange's annual conference in Paris, France, January 14, 2020.
REUTERS/Benoit Tessier/File PhotoLONDON (Reuters) - The boom in the shares of U.S. technology giants is a bubble that will burst once interest rates increase or “over exuberance” in the tech story fades, Pascal Blanque, chief investment officer at asset manager Amundi said on Thursday.
It’s not if, but when,” Blanque told the Reuters Global Investment Outlook Summit, adding that you “cannot justify the current valuations” and investors should adjust their stock porfolios accordingly.
Erik Knutzen, CIO at Neuberger Berman, said tech shares were not “massively over-valued assets” but rather “long duration assets” and made sense to own in a low inflation world.
Knutzen also said his biggest short-term view in markets was that currency volatility would rise as the U.S. dollar extended its recent drop.
Pascal Blanque, Benoit Tessier, Amundi, “, ” Blanque, Erik Knutzen, Neuberger Berman, Knutzen
REUTERS, Reuters Global Investment Outlook, Neuberger, U.S