KKR Releases “Diverging Paths” by Henry H. McVey
March 8, 2018
New Macro Outlook Piece Highlights Investment Shift Away from
“While many of the conversations we are having with investors in the
In his latest report,
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Central bank policy is less hawkish outside of the
U.S. (e.g.Japan andEurope ), which makes it easier to lock in low-cost liabilities – a key macro priority for us in 2018.
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Corporations in both
Europe andAsia are benefitting more directly from our belief thatChina has already crashed in nominal terms.
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Our quantitative models for both European growth and Emerging Market
Public Equity outperformance both suggest favorable outcomes for
investors.
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Both
Europe andAsia have emerged as elegant plays on two of our most important macro themes: ‘Deconglomeratization’ and ‘Experiences over Things.’
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In addition, we see the fixed income ‘Illiquidity Premium,’
particularly in overseas markets, as a compelling feature to earn
solid risk-adjusted returns in today’s low interest rate environment.
Links to access this report as well as an archive of
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Android click here.
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For an archive of previous publications please visit www.KKRinsights.com.
About
About KKR
KKR is a leading global investment firm that manages multiple
alternative asset classes, including private equity, energy,
infrastructure, real estate and credit, with strategic manager
partnerships that manage hedge funds. KKR aims to generate attractive
investment returns for its fund investors by following a patient and
disciplined investment approach, employing world-class people, and
driving growth and value creation with KKR portfolio companies. KKR
invests its own capital alongside the capital it manages for fund
investors and provides financing solutions and investment opportunities
through its capital markets business. References to KKR’s investments
may include the activities of its sponsored funds. For additional
information about
The views expressed in the report and summarized herein are the
personal views of
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KKR
212-750-8300
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Source: KKR
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