Third Quarter 2021
Markets in transition mood amid strong economic expansion
Investment Strategy
There is strong evidence that economic growth and earnings growth have improved and will likely continue to support a healthy investment climate. However, we believe the global economy is in a state of transition, moving from the initial rebound from the pandemic lows of 2020 which was buoyed by strong stimulus policies to a new phase of momentum-driven expansion. Our view is the global economy will transition well and the expansionary cycle will continue for several more years but that markets may meanwhile struggle to find their new footing and sweet spots during the adjustment from the initial bursts of recovery to a more normalised and organic expansion mode.
Global Asset Allocation
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