Fiduciary Investors Symposium

Dislocation: The Death of Goldilocks Economy and The Rise of the Discontent

Political cohesion and stability can no longer be relied upon as politics becomes inward looking with everything from trade deals to central bank swap lines being renegotiated or cancelled altogether.

Liquidity in the financial system which has stemmed from easing monetary policy is already contracting. In a world where derivatives traverse borders, connecting financial systems like never before, a liquidity crisis presents an enormous tail risk in a leveraged world.

The era of global coordinated monetary policy since the GFC, especially with the three largest players (ECB, Fed, and BoJ), will be looked back upon with nostalgia by the current gaggle of central bankers who influence the halls of power. Policy will increasingly be driven with greater sensitivity to nationalist rather than international concerns.

If prior circumstances are not only not going to be repeated in the next decade but be profoundly different, how should asset owners invest and will active management once again be paramount?

“May you live in interesting times” - Chinese curse.

Please note attendance to this event is open to institutional investors, chairs of investment committees and specialist consultants.