Global Chief Investment Officer UBS Mark Haefele
Protecting your portfolio in a more uncertain world
Mark Haefele ist Global Chief Investment Officer der Schweizer Großbank UBS. Foto: UBS
Volatility returned in the first half of 2018, driven by less synchronized global growth, the market´s re-pricing of the Federal Reserve´s hiking schedule, an unexpectedly strong US dollar, escalating trade tensions, and Chinese deleveraging. Looking ahead to the second half, these sources of volatility remain. But it´s important to stay invested.
1. End of a volatile first half reminds of the need to fortify
Most equity investors are unlikely to look back on the first half of 2018
with great fondness. First half returns across all major asset classes,
with the exception of US large-cap growth and small-cap equities, were
either low-single-digits or negative. The ratio of returns to volatility for
global equities was just 0.15. As we look ahead to the second half we
believe it is important for investors to stay...
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