Perspectives Q4/2021

Every quarter, our fund managers analyse trends in the global economy and financial markets. Read their views on the fourth quarter of 2021.

  • Hopes that robust economic growth will continue in 2022 may be disappointed.
  • The most important question for the financial markets at the moment is whether or not inflation is here to stay.
  • The main conclusion to be drawn from the current high valuation multiples is that future returns are likely to be low.