Davies says the reality of today’s low return world with its episodes of heightened volatility means there is a greater need for a dynamically managed multi-asset allocation product.
Given this environment and the risk that recession could return at any time, Davies says investors should be happy with low single digit annual returns.
She says HSBC GAM’s multi-asset portfolios aim to be well diversified but are tilted towards better valued assset classes, countries and currencies over the medium term.
