9 January 2023
Asset Allocation Outlook January
2022 will go down as an exceedingly difficult year for investors. Almost all the general asset classes noted losses, often in excess of 10% based on total returns. And there wasn’t even an end-of-year rally to cheer investors. The equity rally that had started in October stalled at the beginning of December. In the final month of the year the MSCI global equity index fell by 4.0% , with industrialised nations (-4.3%) dropping by slightly more than emerging markets (-1.6%). The losses in the US (-5.9%) and Japan (-4.7%) were larger than those in the Eurozone (-3.5%) and UK (-1.6%). The culprits were uncertainty about economic growth, downward adjustments to earnings expectations and rising interest rates.
Please see Kempen’s Asset Allocation Outlook for January. The highlights this month are:
- We still expect a recession in Europe and the US
- Central banks set to raise interest rates further
- Asset allocation remains cautious
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The information in this publication is of a general nature. This publication may at no time be viewed as an offer and you cannot derive any rights from this publication. The external sources used to produce this publication were selected with the great care.
We cannot guarantee that the information and data from these sources is up-to-date, correct and exhaustive. We accept no liability for printing and typing errors. We are not obliged to update or amend the contents in this publication.
All rights related to the content of this publication are reserved, including the right to amend.
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