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Investment Outlook 2021: Part 2

Life after Lockdown: Just how bad might the Xmas COVID-19 'Third Wave' be?

Good news on the release and regulatory approval of multiple vaccine solutions for COVID-19 may have come too late to make what looks like a potential 'third wave' of the virus preventable. Developed country rates continue to rise, with Germany going into a national lockdown over Christmas in an attempt to reduce the record levels seen in recent days, and Sweden running out of intensive care beds as case numbers soar.

Most commentators conclude that an economic recovery is likely in 2021, but its extent and scope are largely dependent on the timing of the vaccine solutions. Further considerations lie with further fiscal and monetary policy responses. This latest selection of outlook papers reflects a degree of uncertainty about when the new normal might commence. 

 

breaking waves

2021 Investment Outlook - Asset allocation framework (Invesco, Dec 2020)

For compliance reasons, this paper is only accessible in certain geographies

Invesco’s outlook piece notes that outcomes for markets in 2021 are largely conditional on a range of different but inter-related factors.

2021 Outlook: Almost there (AGF Investments, Dec 2020)

AGF's comprehensive 2021 Outlook paper first looks at the prospects for major asset classes, then examines a number of key themes that are likely to prove influential for investors over the coming months.

2021 Outlook: Dark tunnel, bright light (Nuveen, Dec 2020)

The Global Investment Committee at Nuveen outlines their thoughts and suggestions to help investors negotiate the short-term challenges faced by markets, and take advantage of opportunities in 2021.

CIO Outlook 2021: Time for healing (LGIM, Dec 2020)

For compliance reasons, this paper is NOT accessible in the United States and Canada

Sonja Laud, Chief Investment Officer at LGIM, outlines her views for post-COVID-19 markets, in this 2021 Outlook piece.

Market Outlook: What to watch in 2021 (Lazard AM, Dec 2020)

Lazard AM remains circumspect about prospects for markets in 2021. Even as good news appears on the vaccine front, many developed economies are facing new challenges with record levels of COVID-19 and renewed lockdown measures that will continue to dampen any economic recovery.

2021 Investment Outlook Hub (Wellington Management, Nov 2020)

This ‘Outlook Hub’ from Wellington covers the full range of commentary across all major asset classes.

Looking Forward to a Boring Year (DWS, Dec 2020)

DWS sees some further opportunities across asset classes, but treads carefully given the recovery in some asset markets and the substantial number of economic and policy pitfalls that may present themselves during 2021.

Asset Allocation Views: A brighter year ahead (Franklin Templeton, Dec 2020)

For compliance reasons, this paper is only accessible in the EMEA region

Franklin Templeton sees a likelihood of greater potential from global equities, given where yields are on government bonds. They advocate the tried and trusted approach of a balance between equities and bonds, while diversifying amongst a range of risk premia.

Joe Zidle: A More Familiar World in 2021 (Blackstone blog, Nov 2020)

Blackstone remains optimistic for the US economy over the coming year, suggesting that a temporary boom could be seen once vaccines are administered and life adapts to the 'new normal'.

Infrastructure Outlook: Key themes for 2021 (UBS AM, Dec 2020)

UBS AM sees opportunities within the infrastructure space, as additional government economic support is likely to be in the form of spending directed toward job creating projects, particularly those associated with decarbonization and digitalization.

Looking Ahead: Top 10 real estate questions for 2021 (UBS AM, Dec 2020)

In this report, the team at UBS AM offers some suggestions for investors contemplating the key questions surrounding the likely performance of real estate assets in 2021.

A Look Ahead to 2021: Policymakers need to deliver vaccines (NN IP, Dec 2020)

NN IP looks forward to a gradual return to a degree of normality as a global vaccine programme is rolled out during 2021. However, the timing of the rollout and of any further economic stimulus programmes remains difficult to predict.

Video: 2021 Global Investment Outlook (FTSE Russell, Dec 2020)

In this webinar, FTSE Russell explores the potential answers to big picture questions posed by the recent release of positive news on progress of a vaccine solution for the COVID-19 crisis.

Podcast: What we expect for 2021 (BNP Paribas AM, Nov 2020)

BNP Paribas AM's Chief Investment Strategist, Daniel Morris, explores the outlook for 2021 looking at, among other things, how ESG considerations might be incorporated into policy responses by banks and governments.

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