Key takeaways

• As the global economy faces significant disruptions due to ongoing trade wars and tariffs, we believe it is crucial for investors to adapt their strategies to navigate this volatile landscape. 
• While the situation is too fluid to predict accurate economic patterns, we believe a profit recession could arise due to higher costs, lower demand, and increased uncertainty. Although markets have focused on growth damage from tariffs, inflation risks are also rising. 
• We have entered an era of structural shifts that will drive investment opportunities. Overall, we favour European fixed income and a highly diversified equity stance, while also continuing to balance the overall allocation with hedges and gold. 

You can now read the full whitepaper at the link below