July 29, 2020
A number of factors have contributed to the current economic uncertainty, and investment strategies need to adapt to the ‘new normal’, according to GSFM and its fund manager partners Payden & Rygel, Munro Partners and Redpoint Investment Management.
GSFM said economic uncertainty existed before the COVID-19 pandemic, but investment performance will depend on more than economic fundamentals.
Stephen Miller, investment strategist at GSFM, said investing uncertainty is elevated, not just as a result of the COVID-19 pandemic, but also because of other pre-existing economic issues.
“Trade-wars, deglobalisation and re-regulation, dysfunctional politics, cyber-wars, climate change, inequality, and ‘oligopolistic privilege’ were already playing out in the global economy, and COVID-19 has intensely exacerbated uncertainty,” Miller said.
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