Jan. 31, 2019

Investment Outlook Q4 2018

Economic Review

  • Despite strong economic fundamentals market volatility persisted in 2018.
  • Global equity markets tumbled and government bond markets rallied in the fourth quarter.
  • Most countries are seeing declining leading economic indicators, which suggests a further slowdown in global growth next year.

Investment Outlook

  • We expect positive equity market returns in 2019, albeit within the context of an environment that is showing increasing signs of being late cycle in character, and therefore volatile.
  • A conservative, high-quality, sustainable investing philosophy should prove to be increasingly more valuable.

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