{"id":25062,"date":"2022-04-05T12:58:54","date_gmt":"2022-04-05T12:58:54","guid":{"rendered":"https:\/\/ginvest.es\/\/visio-de-mercat-abril-2022\/"},"modified":"2023-06-23T10:42:32","modified_gmt":"2023-06-23T10:42:32","slug":"visio-de-mercat-abril-2022","status":"publish","type":"post","link":"https:\/\/ginvest.es\/ca\/visio-de-mercat-abril-2022\/","title":{"rendered":"Visi\u00f3 de mercat abril 2022"},"content":{"rendered":"

Durant aquest mes de mar\u00e7, la guerra ha continuat sent el catalitzador central dels moviments de mercat, per\u00f2 hi ha altres dos fets importants que no hem de subestimar:<\/p>\n

\u2013 La pujada de tipus d\u2019inter\u00e8s i la retirada d\u2019est\u00edmuls monetaris als EUA que ja ha comen\u00e7at i que haurem d\u2019anar seguint.<\/p>\n

\u2013 El tancament de la prov\u00edncia de Shenzhen i Xangai a la Xina, per un brot de Covid que comportar\u00e0 m\u00e9s disrupci\u00f3 en l\u2019oferta i increment en els costos de producci\u00f3.<\/p>\n

Portem ja un mes de guerra, amb la inestabilitat i incertesa que aix\u00f2 comporta.<\/p>\n

Tanmateix, durant aquest mes la borsa en global ha tornat als nivells previs a la guerra i les mat\u00e8ries primeres i l\u2019energia han accelerat la seva pujada. D\u2019altra banda, la renda fixa no ha funcionat com a actiu refugi, i tampoc el d\u00f2lar.<\/p>\n

La guerra ha portat pujades significatives en el preu del gas, petroli, metalls i cereals, que s\u2019estan traduint en disrupci\u00f3 en l\u2019oferta d\u2019algunes mat\u00e8ries primeres. A m\u00e9s, la guerra tamb\u00e9 ha accelerat la inflaci\u00f3 amb el conseg\u00fcent efecte que pot tenir en el creixement, en reduir la renda disponible de les fam\u00edlies i incrementar els costos de les empreses, amb Europa com a \u00e0rea m\u00e9s afectada.<\/p>\n

No obstant aix\u00f2, haurem d\u2019esperar que la situaci\u00f3 s\u2019estabilitzi per a poder veure quines s\u00f3n les conseq\u00fc\u00e8ncies reals. Fins llavors la volatilitat i incertesa continuaran.<\/p>\n

En aquests moments \u00e9s quan hem de recordar que la volatilitat \u00e9s intr\u00ednseca a qualsevol inversi\u00f3 i que aquesta genera rendibilitat en el llarg termini.<\/p>\n

Davant aquesta situaci\u00f3, la nostra cartera estrat\u00e8gica est\u00e0 implementada per a fer front a les alces de la inflaci\u00f3 i a la volatilitat impl\u00edcita actual, mitjan\u00e7ant:<\/p>\n

En la part de Renda Fixa<\/strong> estem centrats en baixes durades, bons flotants i algun fons m\u00e9s oportun\u00edstic per a fer front a aquestes pujades d\u2019inflaci\u00f3. Aquest mes hem incorporat el fons alternatiu DNCA Alpha Bond, fons que s\u2019ha comportat de manera excel\u00b7lent en aquest entorn de pujada de tipus i que ens aportar\u00e0 descorrelaci\u00f3n a la cartera.<\/p>\n

A Renda Variable<\/strong> aquest mes hem redu\u00eft l\u2019exposici\u00f3 a Europa, regi\u00f3 m\u00e9s afectada per la guerra. En canvi, continuem sobreponderats a \u00c0sia i el Jap\u00f3, zones m\u00e9s a\u00efllades del conflicte i que aporten m\u00e9s estabilitat a la cartera en aquests moments d\u2019incertesa. Quant a la tipologia, preferim fons invertits en companyies de qualitat i amb poder de fixaci\u00f3 de preus<\/a> per a poder traspassar l\u2019increment de preus al client final, amb una visi\u00f3 m\u00e9s a llarg termini. A m\u00e9s, t\u00e0cticament per a aprofitar la situaci\u00f3 actual tamb\u00e9 estem invertits en fons m\u00e9s c\u00edclics i de valor.<\/p>\n

 <\/p>\n

\"\"<\/p>\n

 <\/p>","protected":false},"excerpt":{"rendered":"

Durant aquest mes de mar\u00e7, la guerra ha continuat sent el catalitzador central dels moviments de mercat, per\u00f2 hi ha…<\/p>","protected":false},"author":21,"featured_media":24413,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-25062","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-sin-categorizar"],"acf":[],"yoast_head":"\nVisi\u00f3 de mercat abril 2022 - GINVEST<\/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:\/\/ginvest.es\/ca\/visio-de-mercat-abril-2022\/\" \/>\n<meta property=\"og:locale\" content=\"ca_ES\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Visi\u00f3 de mercat abril 2022 - GINVEST\" \/>\n<meta property=\"og:description\" content=\"Durant aquest mes de mar\u00e7, la guerra ha continuat sent el catalitzador central dels moviments de mercat, per\u00f2 hi ha...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ginvest.es\/ca\/visio-de-mercat-abril-2022\/\" \/>\n<meta property=\"og:site_name\" content=\"GINVEST\" \/>\n<meta property=\"article:published_time\" content=\"2022-04-05T12:58:54+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-06-23T10:42:32+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ginvest.es\/wp-content\/uploads\/2022\/04\/portada-ginvest-abril.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"600\" \/>\n\t<meta property=\"og:image:height\" content=\"450\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Ginvest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@ginvestam\" \/>\n<meta name=\"twitter:site\" content=\"@ginvestam\" \/>\n<meta name=\"twitter:label1\" content=\"Escrit per\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ginvest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Temps estimat de lectura\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minuts\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/ginvest.es\/ca\/visio-de-mercat-abril-2022\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/ginvest.es\/ca\/visio-de-mercat-abril-2022\/\"},\"author\":{\"name\":\"Ginvest\",\"@id\":\"https:\/\/ginvest.es\/#\/schema\/person\/b8cc89243d6fc3d2afcbc51dc1ffdc5d\"},\"headline\":\"Visi\u00f3 de mercat abril 2022\",\"datePublished\":\"2022-04-05T12:58:54+00:00\",\"dateModified\":\"2023-06-23T10:42:32+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ginvest.es\/ca\/visio-de-mercat-abril-2022\/\"},\"wordCount\":487,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/ginvest.es\/#organization\"},\"image\":{\"@id\":\"https:\/\/ginvest.es\/ca\/visio-de-mercat-abril-2022\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/ginvest.es\/wp-content\/uploads\/2022\/04\/portada-ginvest-abril.jpg\",\"articleSection\":[\"Sin categorizar\"],\"inLanguage\":\"ca\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/ginvest.es\/ca\/visio-de-mercat-abril-2022\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ginvest.es\/ca\/visio-de-mercat-abril-2022\/\",\"url\":\"https:\/\/ginvest.es\/ca\/visio-de-mercat-abril-2022\/\",\"name\":\"Visi\u00f3 de mercat abril 2022 - GINVEST\",\"isPartOf\":{\"@id\":\"https:\/\/ginvest.es\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/ginvest.es\/ca\/visio-de-mercat-abril-2022\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/ginvest.es\/ca\/visio-de-mercat-abril-2022\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/ginvest.es\/wp-content\/uploads\/2022\/04\/portada-ginvest-abril.jpg\",\"datePublished\":\"2022-04-05T12:58:54+00:00\",\"dateModified\":\"2023-06-23T10:42:32+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/ginvest.es\/ca\/visio-de-mercat-abril-2022\/#breadcrumb\"},\"inLanguage\":\"ca\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ginvest.es\/ca\/visio-de-mercat-abril-2022\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"ca\",\"@id\":\"https:\/\/ginvest.es\/ca\/visio-de-mercat-abril-2022\/#primaryimage\",\"url\":\"https:\/\/ginvest.es\/wp-content\/uploads\/2022\/04\/portada-ginvest-abril.jpg\",\"contentUrl\":\"https:\/\/ginvest.es\/wp-content\/uploads\/2022\/04\/portada-ginvest-abril.jpg\",\"width\":600,\"height\":450},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ginvest.es\/ca\/visio-de-mercat-abril-2022\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Portada\",\"item\":\"https:\/\/ginvest.es\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Visi\u00f3 de mercat abril 2022\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/ginvest.es\/#website\",\"url\":\"https:\/\/ginvest.es\/\",\"name\":\"GINVEST\",\"description\":\"Gestora de fondos de inversi\u00f3n\",\"publisher\":{\"@id\":\"https:\/\/ginvest.es\/#organization\"},\"alternateName\":\"GINVEST\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/ginvest.es\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"ca\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/ginvest.es\/#organization\",\"name\":\"Ginvest Asset Management SGIIC, SA\",\"alternateName\":\"GINVEST\",\"url\":\"https:\/\/ginvest.es\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"ca\",\"@id\":\"https:\/\/ginvest.es\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ginvest.es\/wp-content\/uploads\/2023\/06\/logo700x700.png\",\"contentUrl\":\"https:\/\/ginvest.es\/wp-content\/uploads\/2023\/06\/logo700x700.png\",\"width\":700,\"height\":700,\"caption\":\"Ginvest Asset Management SGIIC, SA\"},\"image\":{\"@id\":\"https:\/\/ginvest.es\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/x.com\/ginvestam\",\"https:\/\/es.linkedin.com\/company\/ginvestam\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/ginvest.es\/#\/schema\/person\/b8cc89243d6fc3d2afcbc51dc1ffdc5d\",\"name\":\"Ginvest\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"ca\",\"@id\":\"https:\/\/ginvest.es\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/d4e7588b90d03a66a8bfa4fb10dd2c0ff00e5b819408f81c3714506b68e3e96b?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/d4e7588b90d03a66a8bfa4fb10dd2c0ff00e5b819408f81c3714506b68e3e96b?s=96&d=mm&r=g\",\"caption\":\"Ginvest\"},\"description\":\"Expertos en gesti\u00f3n patrimonial\",\"url\":\"https:\/\/ginvest.es\/ca\/author\/ginvest\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Visi\u00f3 de mercat abril 2022 - GINVEST","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/ginvest.es\/ca\/visio-de-mercat-abril-2022\/","og_locale":"ca_ES","og_type":"article","og_title":"Visi\u00f3 de mercat abril 2022 - GINVEST","og_description":"Durant aquest mes de mar\u00e7, la guerra ha continuat sent el catalitzador central dels moviments de mercat, per\u00f2 hi ha...","og_url":"https:\/\/ginvest.es\/ca\/visio-de-mercat-abril-2022\/","og_site_name":"GINVEST","article_published_time":"2022-04-05T12:58:54+00:00","article_modified_time":"2023-06-23T10:42:32+00:00","og_image":[{"width":600,"height":450,"url":"https:\/\/ginvest.es\/wp-content\/uploads\/2022\/04\/portada-ginvest-abril.jpg","type":"image\/jpeg"}],"author":"Ginvest","twitter_card":"summary_large_image","twitter_creator":"@ginvestam","twitter_site":"@ginvestam","twitter_misc":{"Escrit per":"Ginvest","Temps estimat de lectura":"3 minuts"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/ginvest.es\/ca\/visio-de-mercat-abril-2022\/#article","isPartOf":{"@id":"https:\/\/ginvest.es\/ca\/visio-de-mercat-abril-2022\/"},"author":{"name":"Ginvest","@id":"https:\/\/ginvest.es\/#\/schema\/person\/b8cc89243d6fc3d2afcbc51dc1ffdc5d"},"headline":"Visi\u00f3 de mercat abril 2022","datePublished":"2022-04-05T12:58:54+00:00","dateModified":"2023-06-23T10:42:32+00:00","mainEntityOfPage":{"@id":"https:\/\/ginvest.es\/ca\/visio-de-mercat-abril-2022\/"},"wordCount":487,"commentCount":0,"publisher":{"@id":"https:\/\/ginvest.es\/#organization"},"image":{"@id":"https:\/\/ginvest.es\/ca\/visio-de-mercat-abril-2022\/#primaryimage"},"thumbnailUrl":"https:\/\/ginvest.es\/wp-content\/uploads\/2022\/04\/portada-ginvest-abril.jpg","articleSection":["Sin categorizar"],"inLanguage":"ca","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/ginvest.es\/ca\/visio-de-mercat-abril-2022\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ginvest.es\/ca\/visio-de-mercat-abril-2022\/","url":"https:\/\/ginvest.es\/ca\/visio-de-mercat-abril-2022\/","name":"Visi\u00f3 de mercat abril 2022 - GINVEST","isPartOf":{"@id":"https:\/\/ginvest.es\/#website"},"primaryImageOfPage":{"@id":"https:\/\/ginvest.es\/ca\/visio-de-mercat-abril-2022\/#primaryimage"},"image":{"@id":"https:\/\/ginvest.es\/ca\/visio-de-mercat-abril-2022\/#primaryimage"},"thumbnailUrl":"https:\/\/ginvest.es\/wp-content\/uploads\/2022\/04\/portada-ginvest-abril.jpg","datePublished":"2022-04-05T12:58:54+00:00","dateModified":"2023-06-23T10:42:32+00:00","breadcrumb":{"@id":"https:\/\/ginvest.es\/ca\/visio-de-mercat-abril-2022\/#breadcrumb"},"inLanguage":"ca","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ginvest.es\/ca\/visio-de-mercat-abril-2022\/"]}]},{"@type":"ImageObject","inLanguage":"ca","@id":"https:\/\/ginvest.es\/ca\/visio-de-mercat-abril-2022\/#primaryimage","url":"https:\/\/ginvest.es\/wp-content\/uploads\/2022\/04\/portada-ginvest-abril.jpg","contentUrl":"https:\/\/ginvest.es\/wp-content\/uploads\/2022\/04\/portada-ginvest-abril.jpg","width":600,"height":450},{"@type":"BreadcrumbList","@id":"https:\/\/ginvest.es\/ca\/visio-de-mercat-abril-2022\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Portada","item":"https:\/\/ginvest.es\/"},{"@type":"ListItem","position":2,"name":"Visi\u00f3 de mercat abril 2022"}]},{"@type":"WebSite","@id":"https:\/\/ginvest.es\/#website","url":"https:\/\/ginvest.es\/","name":"GINVEST","description":"Gestora de fondos de inversi\u00f3n","publisher":{"@id":"https:\/\/ginvest.es\/#organization"},"alternateName":"GINVEST","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ginvest.es\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"ca"},{"@type":"Organization","@id":"https:\/\/ginvest.es\/#organization","name":"Ginvest Asset Management SGIIC, SA","alternateName":"GINVEST","url":"https:\/\/ginvest.es\/","logo":{"@type":"ImageObject","inLanguage":"ca","@id":"https:\/\/ginvest.es\/#\/schema\/logo\/image\/","url":"https:\/\/ginvest.es\/wp-content\/uploads\/2023\/06\/logo700x700.png","contentUrl":"https:\/\/ginvest.es\/wp-content\/uploads\/2023\/06\/logo700x700.png","width":700,"height":700,"caption":"Ginvest Asset Management SGIIC, SA"},"image":{"@id":"https:\/\/ginvest.es\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/x.com\/ginvestam","https:\/\/es.linkedin.com\/company\/ginvestam"]},{"@type":"Person","@id":"https:\/\/ginvest.es\/#\/schema\/person\/b8cc89243d6fc3d2afcbc51dc1ffdc5d","name":"Ginvest","image":{"@type":"ImageObject","inLanguage":"ca","@id":"https:\/\/ginvest.es\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/d4e7588b90d03a66a8bfa4fb10dd2c0ff00e5b819408f81c3714506b68e3e96b?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/d4e7588b90d03a66a8bfa4fb10dd2c0ff00e5b819408f81c3714506b68e3e96b?s=96&d=mm&r=g","caption":"Ginvest"},"description":"Expertos en gesti\u00f3n patrimonial","url":"https:\/\/ginvest.es\/ca\/author\/ginvest\/"}]}},"_links":{"self":[{"href":"https:\/\/ginvest.es\/ca\/wp-json\/wp\/v2\/posts\/25062","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ginvest.es\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ginvest.es\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ginvest.es\/ca\/wp-json\/wp\/v2\/users\/21"}],"replies":[{"embeddable":true,"href":"https:\/\/ginvest.es\/ca\/wp-json\/wp\/v2\/comments?post=25062"}],"version-history":[{"count":1,"href":"https:\/\/ginvest.es\/ca\/wp-json\/wp\/v2\/posts\/25062\/revisions"}],"predecessor-version":[{"id":25076,"href":"https:\/\/ginvest.es\/ca\/wp-json\/wp\/v2\/posts\/25062\/revisions\/25076"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ginvest.es\/ca\/wp-json\/wp\/v2\/media\/24413"}],"wp:attachment":[{"href":"https:\/\/ginvest.es\/ca\/wp-json\/wp\/v2\/media?parent=25062"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ginvest.es\/ca\/wp-json\/wp\/v2\/categories?post=25062"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ginvest.es\/ca\/wp-json\/wp\/v2\/tags?post=25062"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}