GS Wealthbuilder Multi-Asset Portfolios recognised by RSMR
How is the macro environment evolving compared to our 2018 Outlook? We are watching three main themes: global growth (on track), fiscal policy (looser than we expected) and monetary policy tightening (finally starting to matter).
In 2017, Emerging Market Equities have returned +37%, significantly outperforming US and Developed Market Equities, which returned +21% and +22% respectively – this marks the strongest absolute and relative performance in eight years. Looking to 2018, we believe Emerging Markets could be in the early stages of a multi-year recovery underpinned by 1) growth acceleration 2) earnings revival and 3) attractive valuations.
We expect the global expansion to continue in 2018, and so we remain optimistic about the forward path for risk assets.
How can investors weather the heights in asset valuations and the potential risks in 2018?