Totalreturn blog

Investors who allocated capital to megatrend-type equities have been well rewarded this year. The VIG MegaTrend Equity Investment Fund, which offers a well-diversified exposure to this segment, delivered a return of nearly 20% in U.S. dollar terms in 2025 (returns in Hungarian forints were moderated by the appreciation of the domestic currency). The year 2025 […]

András Loncsák, Chief Investment Officer of VIG Asset Management, shared his views on the expected investment environment for 2026, key risk factors, and possible scenarios in an interview on Millásreggeli, the morning show of radiocafé98. During the conversation, he discussed how the most recent Fed decision may help support positive market sentiment and noted that […]

It is important not only what we invest in, but also the proportion in which we hold each asset. The same Dow Jones Industrial Average basket of thirty stocks has a completely different risk-return profile if we weight them differently. Let’s see what this means in practice with three different versions.   Common index weighting […]

Over the past forty years, the map of the global economy has been fundamentally redrawn. While growth in developed countries is slowing, emerging Asia – led by China and India – is redefining what it means to be part of the “middle class” today. The shift in the income pyramid is not just a statistical […]

How does climate change affect our health? Although climate change does not cause disease on its own, it has a huge indirect impact on our well-being and health, as rising temperatures, humidity, and precipitation greatly influence the spread of pathogens. In the case of malaria, a study by the World Health Organization confirms that changes in […]

Solar plus storage is emerging as the only solution that can be scaled up in the short term. This year, the global benchmark for clean energy stocks has far outperformed the major stock indices and generated nearly as much return as gold. The S&P Global Clean Energy index, which tracks the average price change of […]

The price of gold is currently supported by several mutually reinforcing factors: the increase of U.S. national debt, de-dollarization, supply shortages in mining, inflationary pressure, and the weakening of the dollar. Together, these factors can paint a positive picture for gold in the long term. In the short term, there may be a correction or […]

That seems to be the motto of the world’s largest tech companies, as they continue to pour unprecedented sums into artificial intelligence. Investors, however, are drawing a line: patience is limited, and the clock is ticking for those who fail to deliver tangible returns. Last week, companies representing 44% of the S&P 500’s market capitalization […]

Did you know that digitalization not only brings innovation and, in many cases, convenience to our lives, but also emits a lot of harmful substances due to its enormous energy consumption, resulting in a huge carbon footprint? In 2020, this was on par with air travel, but by the end of 2025, it could double. […]

A few months ago, Elon Musk, Tesla’s founder, noted in an interview that the explosive growth of artificial intelligence (AI) faces three major constraints. “A year ago the bottleneck was chips; the next shortage will be high-voltage transformers. After that, it will be electricity itself. There simply won’t be enough power to run every chip.” […]

Increased military spending in the European Union due to the Russo-Ukrainian war starting in 2022 would change the position of Article 8 (light green) and Article 9 (dark green) funds. The growing geopolitical tensions have prompted the European Commission to launch the ReArm Europe/Readiness 2030 initiative, which aims to strengthen the EU’s military and defense […]

Data-driven allocation between risk and safety One of the biggest questions in the world of investing is knowing when to take risks – and when to retreat to safer assets. The strategy presented in this article aims to do exactly that: it helps determine when it’s better to be invested in riskier equities and when […]

Market Outlook, Key Trends, and Growth Drivers One of the best-performing megatrends of the year has been tied to the companies behind video game development. But what’s driving this surge? The world of video games has long since outgrown its traditional role as a niche entertainment sector. Today, it stands as a dominant, diverse, and […]