Every quarter, our fund managers analyse trends in the global economy and financial markets. Read their views on the second quarter of 2022.

Macroeconomic environment

• A significant slowdown in the global economy is on the horizon.
• Russia’s invasion of Ukraine is exacerbating the inflationary pressures that were already widespread before the outbreak of the conflict.
• The Federal Reserve now considers the fight against inflation to be its top priority.

Financial markets

• The environment for the financial markets has deteriorated.
• In a more inflationary environment, equities are better placed than bonds to protect investors’ purchasing power.
• Asian markets appear to be attractively valued.

Guy Wagner, Chief Investment Officer

Originally from a family of entrepreneurs in Luxembourg and with a degree in Economics from the Université Libre of Brussels, Guy joined Banque de Luxembourg in 1986, where he was successively responsible for the Financial Analysis and Asset Management departments, then became Managing Director of BLI - Banque de Luxembourg Investments, an asset management company newly created in 2005.

From July 2022 on, he devotes himself exclusively to his role as Chief Investment Officer, to the management of the portfolios and to the management of the team in charge management of the various funds.

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