In times like these how should investors think about their global equities portfolio? Hunker down? Buy the dips? Sell? In this fast podcast Pendal Global Select Fund co-manager Chris Lees explains his approach.


Chris Lees co-manages Pendal Global Select Fund, which has for many years been one of the most successful investment strategies offered by Pendal Group’s UK-based asset manager, J O Hambro Capital Management.

In 2021 the fund became available to Australian investors as Pendal Global Select Fund.

Find out more at www.pendalgroup.com/pendal-global-select-fund.

Pendal is an independent, global asset manager.

An excerpt from this podcast:

Every cycle is slightly different. What I think will be slightly different this time is the Fed is starting to raise interest rates as the global economy was already slowing.

In the past, the Fed was raising interest rates as the global economy was still accelerating, but because of Covid it got delayed.

So this time is slightly different. I just repeat that. This time is slightly different in that the Fed hasn't even started raising rates – it's talking about them. Actually, if you look at GDP growth rates, they're beginning to slow and inflation rates are probably peaking.

So it will be very volatile. It'll be a very volatile time for financial assets. It always is as you look in history when interest rates go up. And it'll be slightly different from previous playbooks because the timing and the sequencing is slightly different.

In times like these how should investors think about their global equities portfolio? Hunker down? Buy the dips? Sell? In this fast podcast Pendal Global Select Fund co-manager Chris Lees explains his approach. 
Chris Lees co-manages Pendal Global Select Fund, which has for many years been one of the most successful investment strategies offered by Pendal Group&rsquo;s UK-based asset manager, J O Hambro Capital Management.
In 2021 the fund became available to Australian investors as <a href="https://www.pendalgroup.com/pendal-global-select-fund/">Pendal Global Select Fund</a>.
<a href="https://www.pendalgroup.com/pendal-global-select-fund/">Find out more at www.pendalgroup.com/pendal-global-select-fund.</a>
Pendal is an independent, global asset manager.
An excerpt from this podcast:
Every cycle is slightly different. What I think will be slightly different this time is the Fed is starting to raise interest rates as the global economy was already slowing.
In the past, the Fed was raising interest rates as the global economy was still accelerating, but because of Covid it got delayed.
So this time is slightly different. I just repeat that. This time is slightly different in that the Fed hasn't even started raising rates &ndash; it's talking about them. Actually, if you look at GDP growth rates, they're beginning to slow and inflation rates are probably peaking.
So it will be very volatile. It'll be a very volatile time for financial assets. It always is as you look in history when interest rates go up. And it'll be slightly different from previous playbooks because the timing and the sequencing is slightly different.

Perpetual Group is an international asset manager including boutiques such as Perpetual, Pendal, Barrow Hanley, Regnan and Trillium. Each week our portfolio managers share the most interesting things they've heard from CEOs, industry leaders and analysts.

Perpetual Group is an international asset manager including boutiques such as Perpetual, Pendal, Barrow Hanley, Regnan and Trillium. Each week our portfolio managers share the most interesting things they've heard from CEOs, industry leaders and analysts.

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