With economic and social uncertainty likely to be important considerations for the foreseeable future, investments that are able to generate an attractive income stream, while seeking to defend or potentially grow capital values, are in strong demand globally.
Paul O’Connor, Head of the UK-based Multi Asset Team, responds to the planned $1.9 trillion fiscal stimulus from US President Biden’s new government, considering the implications for the US economy, monetary policy and the markets.
Real estate shares have been out of favour in recent years, and there are indications that listed property is currently undervalued. Portfolio managers Guy Barnard, Tim Gibson and Greg Kuhl assess the indicators and explore the associated risks and opportunities.
While record-setting prices for riskier assets hint at better days ahead, Portfolio Manager Nick Maroutsos believes that a complete exit from the pandemic may take longer than expected, justifying continued monetary and fiscal hyper-accommodation.