IN FOCUS6-8 min read

CIO Outlook: Why it’s too soon to add to equities

Chief Investment Officer Caspar Rock explains what we need to see before turning more positive on shares and how to protect portfolios from inflation.



Caspar Rock
Chief Investment Officer

2022 has been a difficult year for investors, with few places to hide. Global equities fell 25% in the first nine months of the year while global bond markets declined 20% (both in USD terms).

Inflation has been the key theme of the year as it has become clear that rising prices are not simply a reflection of “transitory” factors. In response, central banks have signaled they will raise interest rates to levels that are likely to cause recessions in the US and other developed economies.

Our CIO shares his thoughts on what this means for markets in the fourth quarter and beyond.


Caspar Rock
Chief Investment Officer


Economic views
Global economy
Market views
Interest rates
In Focus

The value of an investment and the income from it may go down as well as up and investors may not get back the amount originally invested.