Few opportunities are available today where discounts to intrinsic value outweigh downside risks. Japanese corporations are increasingly embracing ROE and shareholder value.

As its capital markets develop, the macro picture improves, inflation comes under control, and the economy grows, India's credit and rates markets present a compelling opportunity.

Since Q4 2014, oil prices have plunged, currency markets are at war and intraday volatility of stock indices is disturbing. A crisis mode has started. Asset allocators must mitigate risks before this next crisis inevitably hits.

One of the most important events of 2014 for investors was the dramatic collapse in the oil price. Overall, investment portfolios must be repositioned for increased volatility.

The US equity market will disappoint going forward. Global equity investors need to be far less US-centric to capture better returns.

Navigating the lower limbo stick will require more unconstrained investing, greater consideration of the chosen benchmark, and a greater focus on downside risk management.

Lower 'neutral' monetary policy rates across the developed world will continue to serve as an important anchor for the secular valuation of all asset classes.

Emerging markets will face a more challenging economic and financial outlook over the next few years - but systemic risk across the emerging world is lower than before the Asian crisis.

De-leveraging, widening inequality and structural reforms limit growth in developed markets. The US is the most advanced in addressing these challenges.

Bond markets were once the world's most liquid. Today, trading even $5 million in bonds can be difficult. Managed fund holders must recognize that funds may limit withdrawals and hold larger cash balances.

2015 will be a year of huge uncertainty about the future of the Euro. These uncertainties are likely to pose a fundamental challenge to investing in the Eurozone.

Differentiation is key for emerging markets. Secularly, countries enjoying the rise of consumerism are expected to drive local company earnings above the global norm.

Economic signals are everywhere. By being alert to signals, anyone can start to navigate through the turbulence of the world economy.

PortfolioConstruction Forum Publisher and Markets Summit 2015 Moderator, Graham Rich, opened Markets Summit 2015 in his usual entertaining way, highlighting key issues to consider over the jam-packed, marathon program.

That the global economy didn’t kick on in 2014 may instill some scepticism among investors about 2015’s prospects. There are five important themes to consider through 2015.

Focus on structural reform and potential room for monetary easing provides a positive backdrop for India in the current global context.

EM equities and fixed income enjoyed a boom in the 2000s. Now after several years of relative underperformance, EMs appear to be on the cusp of stronger growth.

The US secondary corporate bond market is in a time of significant upheaval. Changes to regulations has caused a new, insidious liquidity risk.

At first glance, it appears that the US job market has healed. Unfortunately, it is not that simple. The US still has substantial excess labor supply.

Japan has become a nation to which many investors are largely indifferent. But individual Japanese stocks offer some of the most compelling asymmetric risk/return profiles within the equity landscape.