Portfolio Insights

Timely commentary, strategic perspectives and in-depth analysis from our investment teams to help guide your portfolio decisions.

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ASSET CLASS VIEWS FROM OUR SENIOR INVESTORS

Global Asset Allocation Views 2Q 2022

As asset markets recalibrate, we expect ongoing volatility and reduce risk levels accordingly. We trim equities to neutral, keep our duration underweight and remain overweight credit. Later in 2022 we see potential for better returns as uncertainty clears.

Global Fixed Income Views 1Q 2022

We kept our 4Q scenario expectations intact: Above Trend Growth is still our base case, at 80%; Sub Trend growth stays at 10% and we leave Recession and Crisis at 5% each. Best ideas include high yield debt, bank loans and bank AT1 securities.

Global Equity Views 1Q 2022

Equity markets had a bumpy start to the year even before the outbreak of war in Ukraine. We see profit growth continuing, though at a much slower pace. Our strategies have a strong bias to better-quality companies. Valuations look mostly reasonable.

Factor Views 2Q 2022

Amid tumultuous markets, factors generally had a positive quarter. Equity value, merger arbitrage and commodity factors all fared particularly well. We see an attractive outlook for equity factors, which remain historically cheap.

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