According to Loeys, the world economy grew at a trend-like 2.6% in 2011, less than the 4% of 2010, and less than the 3.4% predicted a year ago.
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As for the New Year, Loeys says, "2012 should turn out better for risk markets, even as it will likely be volatile and start hesitantly, producing a mirror image to 2011’s first-strong-then-weak performance."
On the defensive from past year’s experience, 2012 is likely to start with a surplus of bearish growth views and defensive positions. For the year as a whole, we see 2% global growth, split between 0.9% in developed markets and 4.7% in emerging markets, adds Loeys.
According to him the equities are expected to be the best performing asset class in 2012, with returns predicted around 20%, followed by credit and emerging markets currencies between 5% and 10%.
But last year’s performance will keep investors bearish, says Loeys and that 2012 will be a "year of risk management".
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