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Against a challenging macroeconomic backdrop, we present our summarised Global Investment Outlook for 2023.

In 2022, inflation stayed high, interest rates rose, growth expectations fell, while geopolitical tensions dominated the investment landscape and both global equity and bond markets suffered.

Despite risks to the near-term outlook, lower equity valuations and higher bond yields have historically provided for an attractive base for stronger returns in the years ahead.

We thank you for your trust and look forward to helping you realize your financial goals in the year ahead.