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Investment Review

Investment Review January 2023

Author: Heino Hoch
Date: December 2022

Strategically higher bond exposure, tactically little change

Towards the end of each year, alongside tactical considerations we also review our longer-term strategy. It is clear that, despite the gloomy climate in the short term, things are looking much brighter for the decade ahead. Higher interest rates and above-average risk premiums mean better long-term expected returns for equities and bonds. But this will have little or no influence on tactics, i.e. short-term positioning as compared to longer-term strategy.

Asset Allokation Update: Download complete report
Investment Review January 2023