Sarasin & Partners: Through a glass, darkly

Opaque outlook

clock • 6 min read

The financial outlook is particularly opaque – yes, some real value is starting to appear as markets fall, but while central banks continue to throttle demand, caution is needed for a while longer.

The first half of 2022 saw the worst start for US equities since 1970, with no single sector in positive territory except energy. The sell-off has been extraordinarily widespread, with government, corporate and junk bonds all showing negative returns, alongside bear markets in most equity markets. Two unlisted asset classes showed surprisingly strong positive returns - private equity and global real estate. US residential house prices rose by an extraordinary 20.4% in the year to May, while prime London rents climbed by the greatest extent in two decades. This was of little help to inves...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Economics

Partner Insight: Deglobalisation and tariffs are transforming US dollar dynamics

Partner Insight: Deglobalisation and tariffs are transforming US dollar dynamics

Mike Riddell, portfolio manager of Fidelity Strategic Bond Fund, provides an overview of the macroeconomic environment and outlines his views across the strategy’s main alpha sources.

Mike Riddell, portfolio manager of Fidelity Strategic Bond Fund
clock 05 June 2025 • 9 min read
FIF25: RLAM's Mike Fox lambasts anti-US exceptionalism narrative

FIF25: RLAM's Mike Fox lambasts anti-US exceptionalism narrative

AI also not going away

Linus Uhlig
clock 04 June 2025 • 2 min read
OECD tells Reeves that efforts to cement her 'thin' fiscal buffers should be 'stepped up'

OECD tells Reeves that efforts to cement her 'thin' fiscal buffers should be 'stepped up'

UK GDP forecasts also lowered

Linus Uhlig
clock 04 June 2025 • 1 min read
Trustpilot