Our investment approach
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Incorporating the investment outlook
The current investment environment is unique. Real interest rates are very low and even negative in many countries around the world. Meanwhile, returns on risk assets are being generated from central bank stimulus packages rather than from economic fundamentals.
This raises a major question for investors all over the world. How will financial markets perform when the QE era is well and truly over? We don’t think they will do particularly well, as a number of structural trends will hold back economic growth and corporate earnings for many years to come.
Having said that, those same structural trends allow for investors to pursue new opportunities, but portfolios need to be constructed very differently from what has been the norm in the last 30-40 years.
Read about the eight investment megatrends here.