Dr. Ana Cukic Armstrong An Opalesque column for global macro investors.
Benedicte Gravrand, Opalesque Geneva:
Dr Ana Armstrong, joint managing partner and head of portfolio strategy and construction at Armstrong Investment Managers in London, thinks the first big macro theme at the moment is found in central banks all over the world following very lose and easy monetary policy "because they want to make sure that no matter what happens to the global economy, we do not sink back to some sort of regression. So the priority of policymakers at this point is to try and stimulate some sort of growth."
Acknowledging the general consensus that global growth has been quite sluggish, Dr Armstrong points out that the average growth over the last 25 years has been consistent at around 3.5% (globally on an annual basis).
"Growth of around 3.5% is pretty much the norm," she told Opalesque in an interview last week. "The difference that we have now is that around 80% of that growth is coming from the emerging economy and emerging markets." Her firm is positioned to take advantage of firms and sectors with exposure to those markets.
The second big macro theme, she continues, and one that defines Armstrong’s funds, is that central banks are concerne......................
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