7 Drivers of Investment Returns

Quantitative easing and ultra-low rates have morphed from emergency medicine to lifestyle choice. Currency trading is increasingly the policy of choice

J.P. Morgan Asset Management 2 October, 2015 | 4:15PM

This article is part of Morningstar's "Perspectives", written by third-party contributors. Here, Will Meadon, co-manager of the JPMorgan Claverhouse Investment Trust shares his market musings.

The world which was converging is now diverging and comforting, old, analogue economic and market parameters are quickly being replaced by digital phenomena which, as yet, are difficult to fully understand. Even the authorities seem to be in the dark, since there is no obvious policy framework and when we have seen such attempts, like Mark Carney’s 7% unemployment trigger for interest rates – it wasn’t pulled, even when unemployment fell to 5.5%.

Quantitative easing and ultra-low rates have morphed from emergency medicine to lifestyle choice. Currency trading is increasingly the policy of choice. Against such a back drop, markets have become more volatile and short term.

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About Author

J.P. Morgan Asset Management  is the investment arm of JPMorgan Chase & Co. and it is one of the largest active asset managers in the world.

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