With the US midterm elections behind us, CFA Society Finland welcomed Simona Gambarini from Goldman Sachs Asset Management’s Strategic Advisory Solutions team in London for a timely morning discussion on the evolving global economic and investment landscape, on 5th November at Hotel Haven, in central Helsinki.
The presentation offered valuable perspectives on the forces shaping financial markets, from geopolitical uncertainty and inflationary pressures to the transformative impact of artificial intelligence and changing investment opportunities.
Geopolitics, Inflation and a Changing Global Landscape
Simona explored how geopolitical tensions, shifting political priorities and growing economic nationalism are influencing the global outlook. With several important elections on the horizon, protectionist policies, tariffs and efforts to strengthen domestic industries are increasingly shaping economic decisions.
Inflation remains a key concern, with potential pressures arising from energy market disruptions, trade policies, extreme weather events and growing demand for resources driven by AI and technological development. These developments also raise important questions about the future direction of central bank policies and interest rates.
Another important theme was the growing emphasis on economic resilience. Governments are increasingly seeking to reduce strategic dependencies, particularly in energy, critical minerals, technology and defence. Europe, in particular, faces both challenges and opportunities as it works to strengthen its competitiveness and strategic independence.
New Drivers of Growth and Investment Opportunities
Artificial intelligence featured prominently in the discussion, not only as a driver of technological innovation but also as a major influence on energy demand, infrastructure investment and the global competition for critical resources.
Simona also highlighted how changing market dynamics are creating new opportunities for investors. While US equities have dominated market performance in recent years, greater dispersion across global equity markets is opening up potential new sources of alpha, including in European technology, defence and energy-related industries.
Fixed income was another interesting area of discussion. With government bond yields at more attractive levels than in previous years, bonds are once again offering compelling opportunities for investors. At the same time, rising government debt and questions around fiscal sustainability are becoming increasingly important considerations.
Navigating an Evolving Investment Environment
The discussion also touched on the challenges of balancing economic growth, fiscal priorities and the energy transition. As governments respond to cost-of-living pressures and changing voter expectations, investment in long-term resilience must be weighed against more immediate economic and political demands.
One key takeaway from the morning was that geopolitical developments, technological transformation and changing economic policies are increasingly interconnected, creating both risks and opportunities for investors navigating the years ahead.
A warm thank you to Simona Gambarini for sharing her expertise and thought-provoking insights, and to Goldman Sachs Asset Management and Jenny Uski for the collaboration in organising this event.
We also thank all our members and guests who joined us for an engaging morning of discussions and networking!
