Since the beginning of the year, the markets have been gray.
The CAC 40 dropped more than 17%.
Family companies are not immune to the purge.
The Euronext Family Business index fell by around 18%.
Businesses controlled by families are often younger than average and positioned in fast-growing sectors.
However, after having been acclaimed by investors in recent years, these growth stocks have just suffered a severe backlash.
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The rise in interest rates has indeed weighed heavily on these securities.
“When virtually free money was flowing through the markets, investors had a near infinite time horizon ahead of them, they rushed to stocks of companies with good prospects but low returns,”
says a strategist .
But, since the start of the year, with soaring inflation and its corollary, the rise in interest rates, the tide has turned.
Investors have turned away from these...
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