13 Jan 2015

Russ Koesterich Ewen Cameron Watt Stephen Cohen

 

 

 

 

 

 

 

 

 

 

If one thing is certain about today’s investment landscape, it’s uncertainty. New ideas are increasingly difficult to find and it’s unclear how the impact of central bank actions will be felt on investors’ portfolios. Our 2015 outlook highlights the key themes that we believe could affect your investments over the coming year and how you can navigate through what looks set to be a complex 12 months.

 

Central bank and economic divergence

Central bank and economic divergence has come to the fore in recent months and will continue to play out in 2015 as the major driver of relative returns, especially in fixed income. If anything, the disparity between economies – and the respective central bank policies – looks set to widen.

 

CENTRAL BANK DIVERGENCE CENTRE STAGE IN Q4

 

Search for value in an increasingly fully-valued world

The providers of liquidity may be changing, but the safety net that stretched valuations in 2014 has not been completely removed. Our preference for equities holds, but finding value in an increasingly full-valued world and the hunt for yield following 2014’s bond rally are key drivers of our investment calls.

 

Finding value in an increasingly fully-valued world

 

 

Issued in Hong Kong by BlackRock Asset Management North Asia Limited. This material has not been reviewed by the Securities and Futures Commission. Investment involves risks. Past performance is not a guide to future performance. There is no guarantee that any forecasts made will come to pass. Reliance upon information in this material is at the sole discretion of the reader. This material is not intended to be relied upon as a forecast, research or investment advice, and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy. Any opinions contained herein, which reflect our judgment at this date, and may change as subsequent conditions vary. The information and opinions contained in this material are derived from proprietary and non-proprietary sources deemed by BlackRock to be reliable, are not necessarily all-inclusive and are not guaranteed as to accuracy. This material is for informational purposes only and does not constitute an offer or invitation to anyone to invest in any BlackRock fund and has not been prepared in connection with any such offer. Any research in this material has been procured and may have been acted on by BlackRock for its own purpose. The results of such research are being made available only incidentally. BlackRock® are registered trademarks of BlackRock, Inc. All other trademarks, servicemarks or registered trademarks are the property of their respective owners. ©2014 BlackRock Inc. All rights reserved.