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A view to distant horizons with J.P. Morgan Asset Management

STANLIB has partnered with J.P. Morgan Asset Management (JPMAM) to create an offshore equity fund that offers SA investors a best ideas, diversified “all weather” equity portfolio managed by JPMAM’s world-class equity team.

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Picture of Marius Oberholzer

Marius Oberholzer

STANLIB Head of Multi-Asset

Picture of John Bilton

John Bilton

Head of Global Multi-Asset Strategy at J.P. Morgan Asset Management

This presentation is for Institutional/Wholesale/Professional Clients and Qualified Investors only – Not for Retail use or distribution.

 
A view to distant horizons with J.P. Morgan Asset Management

 

2024 Long-term Capital Market Assumptions: Building smarter portfolios for a world in transition

 

Much of what defines the economic environment is in transition, with far-reaching implications for investors. Essentially, it is a move from a world of persistent disinflation, ultra-easy monetary policy and fiscal restraint to one with two-way inflation risk, more conventional monetary policy and greater fiscal activism. This changing environment demands that we revisit not only asset return assumptions but also the assumptions underpinning diversification and portfolio construction.

To build smarter portfolios for a world in transition, we recommend that investors develop the next generation of 60/40 by turning to private as well as public markets, focusing on the importance of manager selection and finding diversification not just from bonds but also from alternatives, factors, thematic investing and other approaches. From a 60/40 foundation, extending beyond the temptation of high prevailing cash yields, expanding the opportunity set and enhancing returns through manager selection and active allocation can all help to strengthen portfolio resilience.

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Marius Oberholzer
Marius Oberholzer
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Marius Oberholzer is the Head of Multi-Asset at STANLIB Asset Management. He and his team manage assets across absolute return, multi-strategy, and hedge fund mandates. They design, deploy, and risk-manage assets globally, using qualitative and quantitative techniques and utilizing passive, active, listed, and unlisted assets to deliver the required client outcomes.

Before joining STANLIB Asset Management, Marius gained global investment experience in London and Hong Kong, trading and managing TT International Hedge Fund’s products. He combined direct investment strategies with bottom-up and top-down macro insights across the firm’s Hedge and Long-Only investment offerings. Upon returning to SA, he engaged in corporate finance activities, private market deals, and structuring before joining STANLIB Asset Management as Co-Head of Absolute Returns. He assumed sole leadership of the franchise in 2015, expanding the team and its capabilities to their current level.

At STANLIB Asset Management, Marius leads the Multi-Asset team, chairs Asset Allocation meetings, and is a member of Investment Exco. He is also the licensed Key Individual for STANLIB Asset Management’s Hedge Fund business. Marius has represented STANLIB Asset Management’s infrastructure investments as a non-executive director and served on the board of a listed Fintech special purpose acquisition company.

Marius holds a BCom (Economics and Commercial Law) from the University of Stellenbosch and an MSc (Global Finance) from the Stern School of Business at New York University and the Hong Kong University of Science and Technology. He also holds the IMC UK investment qualification.