patrice gautry chief economist and member of the investment committee

3
MENA CONFERENCE – APRIL 2013 MENA CONFERENCE – APRIL 2013 1 Patrice Gautry Chief Economist and member of the Investment Committee Union Bancaire Privée, UBP SA

Upload: madison

Post on 05-Jan-2016

44 views

Category:

Documents


0 download

DESCRIPTION

Patrice Gautry Chief Economist and member of the Investment Committee Union Bancaire Privée, UBP SA. Swiss-Arab Wealth Management Forum. 10 APRIL 2013. Asset Allocation’s current challenges. Moderate growth and low yields, but aggressive central banks - PowerPoint PPT Presentation

TRANSCRIPT

Page 1: Patrice Gautry Chief Economist and member of the Investment Committee

MENA CONFERENCE – APRIL 2013MENA CONFERENCE – APRIL 2013 1

Patrice GautryChief Economist and member of the Investment Committee

Union Bancaire Privée, UBP SA

Page 2: Patrice Gautry Chief Economist and member of the Investment Committee

Union Bancaire Privée, UBP SA | 96-98, rue du Rhône | CP 1320 | 1211 Geneva 1, SwitzerlandTel.: +41 58 819 2111 | Fax: +41 58 819 2200

Swiss-Arab Wealth Management Forum

10 APRIL 2013

Page 3: Patrice Gautry Chief Economist and member of the Investment Committee

Swiss-Arab Wealth Management Forum – 10 APRIL 2013 3

Asset Allocation’s current challenges

Moderate growth and low yields, but aggressive central banks

Massive reflation is driving asset allocation

Preferences are converging towards equities

Central banks are declaring a new currency war

Gold: not the end of an era