Citi Private Bank Issues Outlook 2020: Global Growth Can Endure Over the Coming Year
Citi Private Bank today released its Outlook report for 2020, titled, “Staying Positive in a Negative (Yielding) World.” The twice-yearly publication provides in-depth insights into the global economy and financial markets for the coming year, and highlights important multi-year investment themes for client portfolios.
The report highlights Citi Private Bank’s view that global economic growth can endure through 2020 given expectations that corporate earnings will continue to grow at a solid pace; global equities may continue to rise higher; and with global fixed income yields at record lows, they anticipate the sector will continue to struggle in 2020.
“The year ahead promises to be an eventful year for investors,” said David Bailin, Chief Investment Officer, Citi Private Bank. “Our Outlook 2020 cuts through the noise and focuses on what really matters for our clients’ wealth and provides sector recommendations to potentially enhance total return profiles.” He continued, “We believe global growth can continue next year and advise staying fully invested and take notice of unstoppable trends increasingly shaping investments.”
Given the current global context of excessively negative sentiment and negative yields, Citi Private Bank calls for important changes in its Outlook 2020 to build stronger, globally diversified portfolios of different asset classes for positive yield growth. These include a shift in how investors seek portfolio income and sets out two broad investment themes.
First, Citi Private Bank encourages investors to look beyond bonds as they seek income. They advise replacing some bonds with select equities that have a history of earnings and dividend growth; allocating more to value-oriented and cyclical equities, as rates are likely to rise modestly; and for those willing to increase their risk profile, implementing capital markets strategies and private market investments in portfolios.
Citi Private Bank also sets out “unstoppable trends” – major, long-term forces that it expects will shape the world economy over the coming years and will endure whatever happens to the economy. These three trends are the pressing need for cybersecurity to protect our increasingly digital lives, innovative technology that will revolutionize the financial services industry and the shift towards cleaner, more sustainable sources of energy.
The full report, a summary version, short videos, and other materials can be accessed via the Citi Private Bank website here.
About Citi Private Bank:
Citi Private Bank is one of the world’s fastest growing private banks; dedicated to serving worldly and wealthy individuals and families, providing customized private banking across borders. With approximately $460 billion in global assets under management, the franchise includes 48 offices, serving clients across 116 countries. Citi Private Bank helps clients grow and preserve wealth, finance assets, make cash work harder, preserve legacies, and serve family and family business needs through objective advice and a truly open architecture investment platform. The firm offers clients products and services covering capital markets, managed investments, portfolio management, trust and estate planning, investment finance, banking and aircraft finance, as well as art and sports advisory and finance.
About Citi:
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management. Additional information may be found at www.citigroup.com | Twitter: @Citi | YouTube: www.youtube.com/citi | Blog: http://blog.citigroup.com | Facebook: www.facebook.com/citi | LinkedIn: www.linkedin.com/company/citi.
View source version on businesswire.com: https://www.businesswire.com/news/home/20191205005749/en/
Contact information
Media:
North America: Patricia Tuma
+1 212 793 7682
patricia.tuma@citi.com
EMEA: Belinda Marks
+44 20 7508 3082
belinda.marks@citi.com
APAC: Godwin Chellam
+852 2868-7682
godwin.chellam@citi.com
LATAM: Alex Ravinet
+1 305 420 4292
alexandra.ravinet@citi.com
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Parimatch Makes Statement of Intent for Newly Legalised Ukraine Gambling Industry11.8.2020 16:38:00 EEST | Press release
Following the signing of Bill No. 2285-d by President Volodymyr Zelenskyi to legalise the gambling industry in Ukraine, Parimatch, the international betting and technology company, has confirmed it will be bidding for the new operating licences in the country. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200811005562/en/ Parimatch Makes Statement of Intent for Newly Legalised Ukraine Gambling Industry (Graphic: Business Wire) Parimatch was founded in Ukraine in 1994 and was amongst the first bookmakers in the CIS region to transition into a digital betting platform. Today, Parimatch has expanded internationally to become a global betting and technology brand. The company now looks to build on its heritage to become the largest and most innovative operator in its home market. Commenting on today’s signing, Sergey Portnov, CEO of Parimatch said: “I would firstly like to congratulate President Zelenskyi for delivering on his
Andersen Global Enhances Africa Platform With the Addition of Law Firm in Gabon11.8.2020 16:30:00 EEST | Press release
Further strengthening its global platform and adding breadth to its regional footprint in Central Africa, Andersen Global announces its expansion into Gabon through a Collaboration Agreement with Libreville-based Business & Law Consulting (B & Law Consulting). The law firm, founded in 2017, is composed of more than 10 professionals who advise businesses in the areas of contract, corporate, commercial, tax, international trade, employments and general business law. “We are devoted to providing our clients with best-in-class solutions and maintain transparency and independence when handling client matters,” Managing Partner Khadidjatou Boussougou said. “Collaborating with Andersen Global is a great opportunity for us to continue to build our momentum and improve the quality of the services offered to our clients at an international level.” Andersen Global Chairman and Andersen CEO Mark Vorsatz said, “I am impressed with the level of efficiency and enthusiasm that B & Law Consulting demon
Immervision Introduces Wide-Angle Distortion Correction Algorithms with Face and Body Protection for Videos on Smartphones11.8.2020 16:00:00 EEST | Press release
Immervision, the Montreal-based developer and licensor of patented, wide-angle optics and imaging technology, today announced new real-time video distortion correction algorithms making videos the same as we see with our human eyes. The algorithms are available for mobile OEMs to license now from Immervision’s exclusive distribution partner CEVA. The addition of these new algorithms to Immervision’s broad imaging processing software portfolio will enhance the differentiation OEMs can deliver in next-generation phones. In phones, the wider field of view (FOV) creates more apparent distortion. The algorithms from Immervision fix stretched bodies, curved lines, object and face proportions in real-time adjusting to the scene without any postprocessing required - all in one solution. Immervision provides different levels of correction, varied projections and real-time adaptation to the scene and supports OEMs creating a differentiated experience. “Video recording on phones is skyrocketing a
K2View Raises $28 Million to Accelerate Rapid Expansion in the DataOps Market11.8.2020 15:00:00 EEST | Press release
K2View, a leading provider of real-time DataOps solutions, today announced its $28 million funding round, which will accelerate the company’s growth and expansion in the emerging DataOps market. Forestay Capital led the round along with funding from Genesis Partners. It comes on the heels of rapid growth that saw over 75 percent CAGR in revenue, with a strong first half of 2020. This investment will be used to support the company’s go-to-market strategy as it continues its expansion in markets ripe for transformation with DataOps, such as telecom, financial services, healthcare, insurance, logistics and more. “The fastest method to achieve true agility and exceptional customer experience is moving away from 30-plus years of application-driven enterprise into the data-driven enterprise. This is a critical component for digital transformation and a massive opportunity for us,” said Achi Rotem, CEO and co-founder of K2View. “As we look to the next stage of our growth, our vision is to con
ANA Therapeutics and Quotient Sciences Announce Partnership to Manufacture Niclosamide Drug Candidate as a Potential Treatment for COVID-1911.8.2020 15:00:00 EEST | Press release
ANA Therapeutics, a Silicon Valley-based biotech startup, and Quotient Sciences, a leading provider of innovative drug development and manufacturing solutions, today announced a partnership to support the manufacturing of ANA Therapeutics’ drug candidate, ANA001 (niclosamide capsules), which they are developing as a potential treatment for COVID-19. As part of the collaboration, Quotient will scale up the capsule formulation, characterize and optimize the manufacturing process and ensure continuity of drug product through clinical trials. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200811005106/en/ Laboratory experiments have shown niclosamide stops SARS-CoV-2 (the virus that causes COVID-19) from replicating, making it a promising candidate for reducing the spread of COVID-19. Niclosamide was previously approved by the FDA as a treatment for tapeworm and although not currently marketed in the U.S., it is on the World Hea
Visa Expands Commitment to Sustainability Through Inaugural $500 Million Green Bond Issuance and Appointment of Chief Sustainability Officer Role11.8.2020 14:00:00 EEST | Press release
Visa (NYSE: V), a leading global payments technology company, today announced that yesterday it successfully priced its inaugural green bond offering, totaling $500 million, paying a semi-annual coupon of 0.75% and maturing August 15, 2027. The green bond, believed to be the first issued by a digital payments network, will be used to help advance the company’s commitment to environmental sustainability and a sustainable payments ecosystem. In support of that commitment and in addition to its inaugural green bond, Visa is also announcing the appointment of its first chief sustainability officer, Douglas Sabo. “At Visa, we see a responsibility and an opportunity to use the power of our network to drive broad shifts toward a sustainable future,” said Al Kelly, chairman and chief executive officer of Visa Inc. “Our green bond offering will help us accelerate the transformation of our infrastructure and operations to reach our environmental goals. This commitment extends to appointing Visa’
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom