Five principal investment themes for the year ahead
On a relative basis, favour resilient US stocks, but remain cautious on Europe. Rotate your sector exposures – start defensive, before looking to cyclicals later in the year.
Exploit the EM-DM growth differential and be ready to capitalise on a potential China rebound.
Lock in attractive sovereign yields. Seize opportunities in higher quality US and EUR corporate bonds and diversify with China bonds.
Align your portfolio with climate and ESG-related themes such as new energy.
Add diversification and protection early in the year with gold.