Given our view that 2022 will be a year of transition and that asset class returns will converge, we adopt a more balanced approach within our Model Asset Allocation, though still maintain a preference for cyclical assets. We reduce the equity allocation to Neutral and increase the allocation to bonds, by raising high-yield credit (to Maximum) and investment-grade credit (to just below Neutral), though we reduce government bonds to the Minimum allowed. From a regional perspective we have added to emerging market (EM) and Eurozone allocations, while reducing exposure to the US and Japan. We also consider alternative scenarios.
In our view:
Our best-in-class assets (based on 12m projected returns)
Global Fixed Income Strategy Monthly Report
In our regularly updated macroeconomic analysis we offer an outlook for interest rates and currencies – and look at which fixed income assets are favoured across a range of market environments.
Climate investing: mitigation and adaptation
Climate change is challenging societies and to address the risks it’s essential we invest in mitigation and adaptation strategies. Find out more.
Quarterly Global Asset Allocation Portfolio Outlook | Q2 2024
Paul Jackson, Global Head of Asset Allocation Research, EMEA, provides insights into the growth outlook for Q2 2024, discussing potential central bank interest rate cuts and addressing the question of whether the outcome of US elections affects financial markets.
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