1、EMBRACING NEW REALITIESKEY THEMESAsset Management Outlook 2024This financial promotion is provided by Goldman Sachs Bank Europe SEPortfolio Construction:Thinking DifferentlySustainability:Investing with ImpactDisruptive Technology:Innovation and AI AccelerationGeopolitics:Roadmaps for a Reshaped Wor

2、ldMacroeconomy:Living with Higher for LongerA WORLD OF NEW REALITIES We are pleased to share Goldman Sachs Asset Managements 2024 Outlook:Embracing New Realities.As the new year approaches,a new economic landscape is taking shape.Major central banks seem prepared to keep interest rates higher for lo

3、nger,and growth paths and inflation patterns across economies appear increasingly out of sync.An election super cycle is about to unfold against a backdrop of elevated geopolitical risk.Simultaneously,megatrends including disruptive technology and sustainability are rapidly transforming industries.E

4、mbracing change is not easy.It requires resilience and action to avoid being left behindeven when finding the way forward is difficult.Most investors have adapted in recent years to rising geopolitical risks,soaring inflation and the disruptions caused by the pandemic.Further adjustments will be nec

5、essary in a world of greater growth volatility,higher capital costs and geopolitical instability.We expect increased performance dispersion across asset classes,sectors and regions.In these conditions,investors face complex choices and trade-offs.We believe active investment strategies,a focus on di

6、versification and risk management will be important to navigate 2024 and help deliver alpha.In our view,it will also be necessary to manage portfolios in an integrated way,enhancing diversification and performance potential by considering both traditional and alternative investments.Focusing on long