The investment year 2022 has ended clearly in negative territory for most investors. The stock and also the bond markets were only able to recover a little from the lows in September in view of the many unanswered questions about the inflation trend and the future economic development.

In the new year, experts see a certain stabilisation in inflation, accompanied by an economic slowdown. This should sooner or later also lead to an easing of interest rates, according to the experts' expectations.

In the 4th quarter, most investment strategies recovered by up to +2% as a result of the recovery on the stock markets. However, the investment year ended clearly in the red for all investment strategies and the allocation to the two main asset classes, bonds and equities, was not decisive.

The diversification, which has been successful up to now and often in the past, was not very profitable. On the contrary, the price losses for bonds were partly higher than the share price losses.

Calculation LMM; Period 01.01.– 31.12.2022

Note: the figures are before costs
Calculation LMM; Period 01. 01.– 31.12.2022