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Outlook 2019: Where else would you invest?

20 December 2018

We asked a number of our fund managers where they would invest in 2019 if they could not invest in their own asset class.

Paul McNamara

Investment Director – Emerging Market Debt

One of the big themes in the decades ahead is going to be climate change and I think, sadly, being prepared for that is going to be terribly important for all of us. So I suppose building a basket of good agricultural farmland and good sources of water to invest in is a way we can try and protect ourselves from the consequences of global inaction.

Jian Shi Cortesi

Portfolio Manager – Asian Equities

We are currently going through a major innovation cycle in healthcare, where many new treatments are being developed which mean in our lifetimes we could have the potential to live to 200 years old. It is clearly not going to be very cheap to pay for these treatments, so I think a natural hedge could be to invest in the healthcare industry. If they do develop these amazing innovations then the investment should do well and I can use these profits to pay for my treatments and live to be 200 years old.

Mark Hawtin

Investment Director – Technology

If I couldn't invest in my own asset class I think I would look at gold as a really interesting investment opportunity for 2019. In particular, gold mining shares have performed very poorly relative to the price of gold, which itself has performed relatively poorly given some of the uncertainties in global markets. Today I think that could be a really interesting, safer opportunity for 2019.

Lars Jaeger

Head of Alternative Risk Premia

Obviously I do invest my own asset class, but if I could not I think there are some attractive returns to be made in private capital markets: private equity, private credit and even private real estate. I think that is where you can find some interesting opportunities, even though we are at a pretty late stage in this cycle, but opportunities are available independent of the market environment if you invest with good managers.

Adrian Owens

Investment Director – Interest Rates and Currencies

Business start-ups: while I think we are perhaps past the peak in terms of global growth, the outlook still remains quite encouraging. In a world where returns on capital are perhaps more difficult to come by in some of the more traditional markets, I think there are still some very good selective opportunities in small company start-ups.

Important legal information
The information in this document is given for information purposes only and does not qualify as investment advice. Opinions and assessments contained in this document may change and reflect the point of view of GAM in the current economic environment. No liability shall be accepted for the accuracy and completeness of the information. The mentioned financial instruments are provided for illustrative purposes only and shall not be considered as a direct offering, investment recommendation or investment advice. Reference to a specific security is not a recommendation to buy or sell that security. Past performance is not an indicator of future performance and current or future trends.
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