Cash is out, equities are in, and fixed income remains ripe with opportunity, according to a survey of global financial institutions (GFIs) conducted by Natixis Investment Managers. For years now, the firm has aggregated the public outlooks of a cross-section of these firms on an annual basis, providing insight into how they are thinking about the year ahead and, importantly, how that thinking changes over time.
“These GFIs tend to be an excellent bellwether for what the rest of the market will be doing,” says Julien Dauchez, head of portfolio consulting at Natixis IM. “This year, they’re clearly taking a more bullish stance to virtually each and every asset class.”
Calling the shots
2024 was a solid year for most asset classes – outside of emerging market local currency debt and crude oil – with some areas, such as gold, US equities and growth equities, shooting upwards. But as we look to predict the coming 12 months, what did the banks get right over the previous term? And what did they miss?
