The winds of change are stronger than you think

The following presentation was delivered at PortfolioConstruction Forum Summit 2017, the theme of which was "The winds of change".

Synopsis
A cold breeze is blowing through the global economy. Is it the beginning of the Great De-Globalisation? As increased political uncertainty continues to elevate portfolio tail risks, investors should question the assumption that inflation and interest rates will be "lower for longer" and instead consider that inflation could be whipped into a storm by trade, monetary and border policy, while unusually high stock, sector and regional correlations could break down in the near term. Any major dispersion will create an opportunity for those with a strict valuation lens to extract value by maintaining nimble capital and investing with fewer constraints.

Presenter
Ronald Temple, MD, Co-Head of Multi-Asset & Head of US Equity, Lazard Asset Management (New York)

Paper(s)
2017 Global Outlook

Presentation - Recorded 14 February 2017 (21 mins)

  Slides       Podcast

More info - Contact Lazard Asset Management