The global economy may be facing plenty of headwinds at present, but respondents to Fidelity's survey remain broadly positive about the ability of global equities to navigate the uncertainty. Over three-quarters said they were either "very" or "somewhat" confident that global equities will provide an attractive return over the next 12 months.
As one of the advisers we interviewed put it: "This year we can already see that markets are starting to gain a little bit more confidence back. So we're trying to get that through to our clients, showing them some historical trends in how equities have recovered in the past."
All this positivity comes despite significant worries about global macroeconomic conditions in the short to medium term. Two-thirds of respondents said they were either "very" or "somewhat" concerned about inflation risks, with 58% saying the same of market volatility and over half expressing concern about interest rate rises.
Room for positivity
According to Aditya Shivram, portfolio manager for the Fidelity Sustainable Global Equity Income Fund, there is room to be cautiously positive near-term.
"Inflation data and changing interest rate expectations continue to drive market moves," he says. "Despite issues in the banking sector, central banks around the world raised interest rates, showing continued commitment to the fight against inflation."
Furthermore, he adds: "Despite a turbulent start to the year with investors facing continued high levels of inflation and a banking crisis, global equities rose strongly over the first quarter."
For more discussion of the outlook for global equities, read the full survey report
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