Investing in the 2020s will mean more risk, for less reward

Ronald Temple  |  Lazard Asset Management  |  18 February 2020  |  0.25 CE

Over the last decade, investors profited handsomely in spite of lackluster global growth, as central banks inflated asset prices and companies gained the upper hand over workers. Through this time, key challenges to future growth were largely left unaddressed. In the decade ahead, ageing demographics, income inequality, market share concentration and climate change will reshape the economy, elevating the VUCA facing investors. Expected returns are likely to be lower across the asset class spectrum, while dispersion within and among asset classes will b...

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