Markets crave certainty. Unfortunately, there is very little that is clear about how current trends will develop over the coming year. Vaccine rollouts have enabled economies to begin to recover from Covid-19. Reopening is underpinned by increasingly activist fiscal policy in the United States and Europe, alongside ongoing global central bank support. This support has boosted economic growth but created fears over the possibility of embedding structural inflation that could force central banks to reign in monetary support for the economy. Central bankers appear confident that inflation will prove temporary, as bottlenecks in global supply chains diminish, markets won’t rest at ease until we know how ‘temporary’ is temporary.

While markets fret about inflation, we ask what risks and opportunities have been ignored. For example, ESG risks are increasingly well understood, but fewer market participants appreciate the opportunities that arise from shifts towards an environmentally sustainable and inclusive economy. In the meantime, investors will continue to seek opportunities to capture yield by expanding their investment horizons by, for instance, looking further down the fixed income capital structure and making dedicated allocations to emerging markets. We ask how these trends are likely to play out.

This half day event will gather views and opinions from leading asset owners to discuss trends that are disrupting markets, as well as the implications for investment allocations, returns and opportunities looking ahead.

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