A session during the meeting
Standard Chartered’s Chief Investment Officer for Africa, the Middle East, and Europe, Manpreet Gill, has underscored the pivotal role of global asset allocation amidst evolving market conditions.
In a presentation titled, ‘Adapting to Shifting Winds’, in Accra, he outlined the bank’s comprehensive outlook for the global investment landscape in the second half of 2024.
Commenting on the first half of 2024, Mr. Gill highlighted the success of their ‘sailing with the wind’ approach, noting robust performance across various asset classes, particularly growth-oriented strategies.
He emphasised the theme of adaptation amidst changing market dynamics, encapsulated in the outlook titled, ‘Adapting to Shifting Winds’.”Our outlook for the remainder of the year revolves around three key messages,” Mr. Gill continued.
“Firstly, we foresee continued strength in global equities relative to bonds and cash. Secondly, regional disparities will shape equity performance, with the U.S. expected to lead amid concentrated market focus. Lastly, we see emerging opportunities in sectors like emerging market bonds and gold, driven by supportive central bank policies,” he elaborated.
Touching on investment strategies, Mr. Gill advocated a balanced approach, emphasising the importance of foundational allocations alongside opportunistic investments.
He noted the attractiveness of current bond yields relative to cash, urging investors to consider locking in yields amid potential future rate cuts by central banks.
Additionally, Mr. Gill expressed cautious optimism about global economic stability, highlighting potential risks such as elevated market valuations and geopolitical uncertainties.
Chief Executive Officer, Standard Chartered Jersey, United Kingdom, Henry Baye, outlined three distinct roles that define the bank’s approach as a “risk manager,” navigating global financial risks; a “diversity bank,” focused on long-term wealth management; and a “lifecycle bank,” offering comprehensive financial services throughout clients’ life cycles.
These identities, he said, reflected the bank’s commitment to supporting clients at every stage of their financial journey.
Head of Financial Markets at Standard Chartered, Jojo Bannerman, urged both individual and institutional investors to diversify their portfolios across domestic and international markets, emphasising the heightened significance of ongoing geopolitical events.
A business desk report