Investment Outlook

Economic and market forecast in six charts

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Mid Year Outlook Designs

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This is a visual summary of our 2023 Mid-Year Investment Outlook, in which specialists from across our investment platform share insights on the economic and market forces that we expect to influence portfolios for the remainder of this year. 

In this series of charts, we explore the implications of global macroeconomic trends, such as continued inflation and a potential return to greater economic cyclicality, for fixed income, alternative, and equity markets. 


When the US sneezes, does the world still catch a cold?

The market is currently priced for continued cyclical convergence, which assumes that the historical pattern we’ve seen since the late 1990s will go on.

Discover why we disagree and believe that macroeconomic cycles are likely to be more extreme, frequent, and compressed going forward, creating both risks and opportunities we’re watching closely.


Asia: A growth story with longer-term momentum

While global growth has changed or slowed in many parts of the world, it seems to be accelerating in developing Asia.

Understand why our experts believe that Asia will likely record the world’s strongest growth this year and next, an opportunity active managers could tap into effectively.


The state of venture capital markets

Global venture market deal activity has fallen almost 65%, from US$188.2 billion in late 2021 to US$67.4 billion in the first quarter of 20231 — the lowest point in nearly a decade.

However, we’ve seen opportunities in the market grow over the past nine months. Discover the reason for this apparent contradiction and learn why we see 2023 as a potentially strong ventage year for private equity.

 1Source: Preqin Q1 2023 Venture Capital Update. Data as of 31 March 2023.

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