Citi Global Wealth Investments Issues Mid-Year Outlook 2021: Traveling to the post-COVID world - New portfolios for a new economy
Citi Global Wealth Investments today released its Mid-Year Outlook 2021 report, Traveling to the post-COVID world: New portfolios for a new economy. Released twice yearly, Citi’s outlook explains why this recovery will be strong due to swift and deep government stimulus and vaccine effectiveness. This sets the stage for several new near-term and long-term opportunities for investors.
Citi Global Wealth Investments expects that digitization, climate change, increased US-Chinese competition and government spending policies will reshape industries. The pandemic focused attention on these issues and their economic impact will provide many companies with new growth potential. This allow portfolios to move beyond our previous approach of “exploiting mean reversion” that focused on investing in areas hardest hit by the recession and riding the recovery. Additionally, our eyes are also on the many governments that intend to make greater investment in infrastructure reshaping their own economies.
“Long before the arrival of effective vaccines, we made the case for a full recovery in the global economy. We advised clients to remain invested and to add to their equity allocations early on,” said David Bailin, Chief Investment Officer and Global Head of Investments for Citi Global Wealth. “Now, we look to exploit the trends that will reshape the world after COVID. We caution, however, that many of the best near- term investments aren’t necessarily those we envisage leading markets higher longer-term. We want client portfolios to evolve and reflect the transformational opportunities to come.”
Unprecedented monetary and fiscal easing measures, effective vaccines and tech-powered productivity improvements have helped lower the chances of another economic contraction any time soon. Therefore, Citi continues to recommend allocations toward regions and industries where valuations do not reflect a full recovery. We have recently moderated our peak equity allocation for the first time since early 2020. We’ve pivoted from some “early cycle outperformers” to global health care and dividend growth shares to try to identify more enduring returns.
As the economic recovery continues to play out, long-term bond yields are likely to trend higher. That is why we still have a large underweight in bonds. Citi has added floating bank rate loans to portfolios that can do better in such an environment.
“While much of what we highlight in Mid-Year Outlook 2021 are portfolio approaches that will benefit from a steadily improving economic recovery, we also note areas of caution,” said David Bailin. “These challenges could include COVID mutations and cybersecurity concerns. That is why we seek to preserve and grow wealth by way of a globally diversified asset allocation rather than taking highly concentrated risks.”
What has gained momentum is Citi Global Wealth Investment’s focus on “Unstoppable Trends”. The pandemic promoted digitization - how businesses and consumer alike embraced new technology to live and work; greening the world – the collapse of fossil fuel demand and energy prices during the first lockdown and what that means for the rollout of clean energy; and the rise of Asia – how strategic engagement between China and the U.S. will look in the future.
The full report, a summary version, short videos, and other materials can be accessed here.
Citi Global Wealth was formed in January 2021 to deliver Citi’s wealth solutions, products and services globally to help enable clients achieve their financial goals.
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management. Additional information may be found at www.citigroup.com | Twitter: @Citi | YouTube: www.youtube.com/citi | Blog: http://blog.citigroup.com | Facebook: www.facebook.com/citi | LinkedIn: www.linkedin.com/company/citi.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
+1 718 248 7029
+44 7873 73586
+1 305 420 4292
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
NuScale Power Signs Memorandum of Understanding with Getka and UNIMOT to Explore SMR Deployment in Poland23.9.2021 19:00:00 CEST | Press release
NuScale Power, Getka Group (Getka) and UNIMOT S.A. (UNIMOT) announced today the three companies have signed a Memorandum of Understanding (MOU) with business purposes including to explore the deployment of NuScale’s small modular reactor (SMR) technology as a coal repurposing solution for existing coal-fired power plants in Poland. Getka is an Oklahoma-based integrated energy company providing construction, and delivery of petroleum, refined products, and alternative energy. Through its Zero Impact Strategy, Getka is focused on reducing emissions output through renewable energy. UNIMOT is a Poland-based multi-energy Capital Group that offers its wholesale and retail customers fuel products, gas and electricity, including renewable energy. This agreement demonstrates the value of international partnership and collaboration in utilizing NuScale’s SMR technology to repurpose coal plants across the country. This press release features multimedia. View the full release here: https://www.bus
Fluence by OSRAM Experts Join Speaker Lineups at Global Horticulture and Cannabis Conferences This Fall23.9.2021 17:54:00 CEST | Press release
Fluence by OSRAM (Fluence), a leading global provider of energy-efficient LED lighting solutions for commercial cannabis and food production, announced its upcoming schedule of speakers who will present at virtual and in-person horticulture and cannabis industry conferences this fall. “We’re thrilled our speakers are joining industry thought leaders from across the world to share their deep knowledge with cultivators, researchers, partners and others,” said David Cohen, CEO of Fluence. “At Fluence, our experts lead with science and are dedicated to advancing the industry’s awareness and application of LED lighting technologies to better understand the interaction between light and life. We look forward to connecting with conference participants, engaging in valuable conversations and discussing insights and learnings about what’s possible for LED lighting technology.” Fluence’s roster of speakers includes: NCIA’s Midwest Cannabis Business Conference: Corinne Wilder, vice president of g
ESI Group appoints Francis Griffiths as Executive Vice President of Sales23.9.2021 17:30:00 CEST | Press release
Regulatory News: ESI Group (ISIN Code: FR0004110310, Symbol: ESI) is pleased to announce the appointment of Francis Griffiths as Executive Vice President of Sales, effective October 1st, 2021. He will report to Mike Salari, Corporate COO Revenue Generation, and join the leadership team of Cristel de Rouvray, CEO of the Group. He will be based in the United Kingdom. Francis Griffiths, 57 years old, is a long-standing executive with more than thirty years of experience in the realms of business and technology. He has a long history of success in the global marketplace with technical and scientific software solutions and has experience with the type of transformation we are driving at ESI. He brings to ESI an impressive track record of growth in Test & Measurement, Simulation and Industrial Automation in various industries including Automotive, Aerospace, Heavy Machinery, Communications, Energy, and Electronics. From this point onwards, Francis will be entrusted with leading and overseein
2J Antennas Launches The World’s Smallest 5GNR, WiFi-6E and GNSS Combination 9-in-1 Antennas For Critical Communication Modernization23.9.2021 16:50:00 CEST | Press release
2J Antennas, a global leader in high performance antenna solutions, introduces the new Stellar Series that is designed for a large suite of devices with a focus on sub 6 GHz, 5G NR, 4G LTE, 3G, 2G, WiFi-6E and GNSS technologies. With superior reliability, quality, performance, real time connectivity and smaller size, the Stellar Series caters to law enforcement, medical transportation, fire rescue, and any other applications where mission critical communication is a requirement. This series includes single or up to 9-in-1 configuration choices within the range of 617 MHz to 7125 MHz frequency bands. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210923005703/en/ Stellar Series by 2J Antennas (Photo: Business Wire) The cutting-edge patent pending technology reduces the antenna footprint by 55% while implementing a new double trifilar design and longitudinal resonances for MIMO/ ARRAY configurations that traditionally have mor
Saladax Biomedical Announces Salvatore J. Salamone, Ph.D. Received the Prestigious Dr. C.E. Pippenger Award23.9.2021 16:05:00 CEST | Press release
Salvatore J. Salamone, Ph.D. received the prestigious Dr. C.E. Pippenger Award at the 2021 International Association of Therapeutic Drug Monitoring and Clinical Toxicology (IATDMCT) annual meeting in Rome, Italy. This award is given to individuals who have made outstanding contributions to the field of Therapeutic Drug Monitoring (TDM). TDM is a field of medical science that seeks to ensure that patients receive a personalized dose of drugs to achieve an optimum therapeutic result. Unfortunately, many medications, such as anticancer, antibiotics, and antifungal treatments, have severe toxicities when overdosed and are ineffective when underdosed. TDM seeks to ensure that the patient receives enough drug to treat the condition but not too much to cause toxicities and potentially death. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210923005035/en/ Dr. Salvatore J. Salamone (Photo: Business Wire) Dr. Salamone received this aw
HarbourVest Partners Announces Close of Direct Lending Fund23.9.2021 16:00:00 CEST | Press release
HarbourVest Partners, a global private markets asset manager, today announced the final close of its HarbourVest Direct Lending Fund (HDL) at over $892 million in limited partner commitments, including the General Partner commitment. The Fund was oversubscribed and closed above the target size of $600 million. This close follows the firm’s final close of Credit Opportunities Fund II, HarbourVest’s junior credit offering, earlier this year. “We are pleased to mark the final close of our inaugural, dedicated direct lending fund, bringing our total capital under management for credit investments to over $3.3 billion*,” said John Toomey, Managing Director, HarbourVest Partners. “The past year has demonstrated the resilience of the asset class and reinforced our objective to broaden the reach of HarbourVest’s solutions to help clients invest in rapidly growing strategies.” The Fund targets senior credit investments in private equity-backed middle-market companies, predominantly in North Ame
Belam and Cepton Establish Partnership to Enable Safety at High-traffic Railway Level Crossings23.9.2021 16:00:00 CEST | Press release
Cepton, a Silicon Valley-based innovator of smart lidar solutions has teamed up with Lithuania-based system integrator Belam to improve road user and rail passenger safety by deploying lidar-enabled obstacle detection at railway level crossings. Following the installation of Cepton’s Helius® Smart Lidar System at a busy railway intersection in Europe, the lidar-based solution has monitored over 15,000 train passages with high accuracy to help ensure the safety of pedestrians and other road users. The system has also helped improve the efficiency of the train service and the traffic flow where it is deployed. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210923005369/en/ Cepton's lidar sensors are installed at the busy level crossing to monitor a complicated traffic scenario. ©Belam. Photo Credit: Belam Belam is a full-service system integrator operating in the Baltics and Northern Europe. Utilizing cutting-edge technologies
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.Visit our pressroom