Raymond Backreedy

No change to our models SAA. 2024 has been another good year for global equity investors; however, the US president-elect warnings of trade tariffs, continued geopolitical tensions and uncertainty around inflation and rate cuts are all potential headwinds that can weigh on markets in the year ahead.

We emphasise that advisors and end clients remain invested in globally multi asset portfolios aligned to the appropriate strategic asset allocation that matches the clients' risk appetite i.e. tolerance for loss and drawdown and to resist the temptation to time markets, switch between defensive and risk assets or pick regions, sectors or stocks, all of which have been shown to erode performance in the long term, with the consequential sub optimal outcome for the end investor.

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