Despite a very gloomy outlook in this uncertain environment, Markets have had a powerful bounce back. U.S. and Global Growth stocks have led the way, while the traditional "Value" sectors have been more mixed: Oil and travel‑related equities continue to suffer, but Financials have shown signs of life, despite monetary policy stimulus collapsing interest rates.
With Growth stocks leading both into the crisis and again through the market's current recovery, valuation spreads between Growth and Value have become extended by almost any measure. One of the challenges of investing today is that a handful of companies with natural monopoly characteristics represent a huge percentage of global market cap. Identifying these stocks and sticking with them has been crucial to performance.
Laurence Taylor from T. Rowe Price will share his views and outlook for the Global Equity markets.
Topics that will be discussed during the presentation include:
- Will this recession be different than previous ones?
- Is the current low inflation environment here to stay given the huge monetary and fiscal stimulus?
- Will China continue to be the driver of Global Growth?
- Will Value make a come back or will secular winners retain market leadership in a world being redefined by crisis?
- What can the current environment say about Active versus Passive management?
Founded in 1937 by Thomas Rowe Price, T. Rowe Price is one of the largest fundamental active asset managers in the world. The company manages over 1 trillion USD in actively managed portfolios for institutional and retail clients. Mr. Taylor is a portfolio specialist in the Equity Division at T. Rowe Price, representing the firm's global equity strategies.