“Everyone should get used to a diminution of wealth”

Frankfurt Klaus Kaldemorgen warns of a change of times on the capital markets. In an interview with the Handelsblatt, the well-known fund manager, who has been working for the Deutsche Bank fund subsidiary DWS for 40 years, explains why investors can be happy if they keep their assets in the next ten years after deducting inflation. In his view, the upheavals caused by geopolitical crises and climate change will hardly allow for a broad increase in prosperity.

In the short term, the fund manager fears further falls in share prices of up to 14 percent, primarily as a result of the energy crisis escalating. In his fund with assets of a good 14 billion euros, Kaldemorgen is therefore pursuing a “cautious investment strategy” with shares, a few bonds, cash and gold.

Read the interview here: