The real and the imagined

Multi-Asset update & outlook


Simon Doyle

Simon Doyle

Head of Fixed Income & Multi-Asset

Over the last 12-18 months we have highlighted the gap between investors’ perceptions of risk in asset prices and the implications of extended valuations on future returns. Consistent with this has been the link between asset prices and the aggressive reflationary monetary policies pursued by major global central banks – especially the Fed, but more recently the ECB and the BOJ. Simon Doyle, Head of Fixed Income & Multi-Asset outlines our essential argument that with respect to asset prices, whether you look at bonds or equities, risk has been mispriced, and explores the implications this has on multi-asset investing/our multi-asset portfolios.

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