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Economic changes to cause ‘heartburn’ for asset managers
InvestorDaily
A destabilising economic downturn will take place in the near future and it will cause some stress for asset managers, but it is not a doomsday scenario according to one executive. Michael Fawley, vice-chairman of Capital Group International, made the comments at Morningstar’s annual Investor Conference after telling the room of the upcoming economic signs to watch out for. “I don’t want to sound as if I’m in a gloomy state of mind its clearly going to give us heartburn as asset managers and investors but it’s not a doomsday scenario,” he said.
Mr Fawley said the next downturn would likely have a big effect on markets despite government efforts to counteract it. “The next economic downturn is likely to have a destabilising effect on the bond and stock market and probably currencies as well. I’m not pessimistic about government efforts to counteract the next downturn or recession but those efforts will take place in a very different global strategic and economic environment,” he said.
The rest of this article can be found at investordaily.com.au.
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