High inflation has a silver lining for portfolios

Ronald Temple  |  Lazard Asset Management  |  08 December 2022

It’s well known that we’re experiencing an inflation paradigm shift - but investors underestimate the inflationary effects of high shelter and labour costs in the short run, and of supply chain reconfiguration and climate change mitigation in the long run.

Portfolio construction practitioners should brace for more market volatility in 2023 and orient portfolios to resilient fixed income and equity securities. Within alternatives, private equity faces a period of lower returns and increased macro dispersion, however inflation will benefit hedge fund and infrastructure mana...

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