For investors, these are challenging times. Amid the fog of war, uncertainty levels are high. In this CIO View, we explain — in the form of questions and answers — the latest thinking from our chief investment officer teams in Europe and Asia and provide tactical guidance on how best to hedge, protect and diversify portfolios.
How do you see the crisis unfolding?
On Feb 24, a full-scale invasion of Ukraine was launched by Russian forces. Media reports highlighted setbacks to Russian forces in the initial phase of the invasion, but subsequent reports suggest a substantially larger force is gaining momentum with the aim of overwhelming the Ukrainian resistance. In our view, there are two possible outcomes to the current open military conflict.