Welcome to the Year Ahead 2021.

In a “Year of Renewal” we will see a world that is steadily returning to normal, despite continued uncertainty, while also rapidly accelerating into a trans- formed future.

If investing in 2020 was about going resilient, large, and American, we think 2021 will be about going cyclical, small, and global as the sectors and markets most heavily affected by lockdowns start to revive.

At the same time, as the economy accelerates into the future, investors with an eye on the long term will need to add exposure to the disruptors making our world more digital and sustainable, most notably in greentech, fintech, and healthtech, and among the beneficiaries of 5G rollouts.

We hope that this Year Ahead 2021 provides greater perspective on
the investment implications of our fast-changing world. We look forward to working together to help shape your portfolio for the future.

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