FROM December 2015 to February 2016, the MSCI World Index lost 14 per cent and markets remain unsure of why it happened. In the subsequent months, the MSCI World Index recovered nearly all of its losses and markets are also not very clear about what changed.
Since December last year, the markets have been largely concerned about China's growth and the sharp decline in oil prices.
But at the heart of it, we think the biggest issue is that this economic expansion has gone on for seven years and many are thinking that the world must be due for another recession. And due to the painful losses from 2008 when global equities declined by 50 per cent, investors are eager to reduce their exposure before...
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