Top Down: what does the crisis in Ukraine mean for asset allocation?

16 March 2022

Every month, our Asset Allocation Committee meets to discuss and debate our market outlook. How has our asset allocation changed month-on-month? Here Bernard Swords, Chief Investment Officer, presents our views.

Financial markets were already under pressure this year – and the conflict in Ukraine has added to that. There is now much concern about the movements in energy prices and whether they could derail the global economy.

There are also fears that the conflict could broaden out or be long drawn out. But movements in the diplomatic channels over recent days offer some hope that neither of these outcomes will occur. Nevertheless, we are living with the risk of them.

The main cause for optimism is that it is in nobody’s interest for either of these outcomes to occur. But this remains the greatest risk to the global economy – and the most difficult to predict.


To find out more about our market views and how this has impacted our asset allocation, read the full Top Down report here.


Previous editions of Top Down

Explore some of our previous editions of Top Down to see how our asset allocation views have changed over the last year. 

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