How we are managing our clients’ portfolios

In our last communication, we anticipated that 2021 would be a year of global economic recovery. Now, with vaccination rates close to 50% in the United States and Europe, over 60% in the United Kingdom, and finally set to accelerate in Japan, we have a positive outlook for economic growth across the major developed economies in the second half of 2021.

This paper discusses what we’re doing to manage our clients’ multi-asset portfolios using our CVS investment decision-making framework by answering the following questions:

  • Where in the business cycle is the economy
  • How expensive is a security’s valuation relative to other regions?
  • What are the strongest gauges of market sentiment?

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