Morningstar Australasia Pty Ltd ABN: 95 090 665 544, AFSL: 240892
The world economy continues to improve, and investors have been further encouraged by the U.S. tax cut package they have been anticipating for some time. The economic fundamentals are still signalling support for growth assets in coming months. Even allowing for the positive outlook, however, valuations are expensive across many asset classes, investors appear to be systematically discounting true levels of risk, and it is difficult to see how 2018 will be able to repeat 2017’s strong investment returns. For the full report click here.