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Doug Turvey, Private Client Portfolio Manager at Cannon Asset Managers, looks at what investors should do now.
Monday, the rand plummeted to a new all-time low against the US dollar, while stock markets around the world experienced significant declines - hit by the growing concerns around declining Chinese economic growth.
• The current market turmoil comes as no surprise considering that equity valuations have become extended when compared to macroeconomic realities • Weaker growth in China is finally being digested by equity markets • US economy is weaker than the numbers suggest • Bonds and defensive global equities remain the cornerstone of our portfolios
Over the last two years we’ve noticed an increase in requests from investment managers (other than traditional asset managers) wanting to make use of the Glacier platform in order to run wrap funds on behalf of financial advisers. The ensuing due diligence documents didn’t quite encapsulate their offerings and this led us to investigate the trend further and to set up interviews with these investment managers.
Do you think short-term insurance broking will survive the AI plus humanoid robotics age?