Held on 18 February 2025 at Ritz Carlton Pacific Place, this exclusive event featured leading voices from DBS Bank, moderated by Joanne Goh (DBS Chief Investment Office - CIO), with insights from Dylan Cheang dan Daryl Ho as Senior Investment Strategists, Sean Wong as the Head of Product Management for Managed Solutions, dan Maynard Arif as Indonesia Market Strategist.
Reflecting on 2024, the team shared how DBS Bank’s flagship Barbell Strategy delivered 15.6% returns, validating previous CIO themes such as “A Broadening Rally,” “Risk Assets in Play,” and “In a Sweet Spot.”
Looking into 2025, the DBS Chief Investment Office (CIO) highlighted:
- Macro & Rates: Anticipation of further interest rate cuts by the Federal Reserve (Fed) and the European Central Bank (ECB), a gradual tightening by the Bank of Japan (BOJ), with potential support from the People’s Bank of China (PBOC) — though the path may be volatile due to geopolitical tensions and possible new tariffs under former United States President Donald Trump.
- Equities & Credit: Continued preference for United States equities, backed by strong corporate margins, artificial intelligence-driven capital expenditure, and ASEAN opportunities from supply chain shifts and rate cuts. Investment-grade bonds (A/BBB) remain core for stable income, managing reinvestment risks through selective duration exposure.
- Diversifiers & Thematics: Maintaining a positive view on gold and hedge funds for diversification, while spotlighting sports investments as a unique growth theme amid rising global enthusiasm for live events and scarce premium franchises.
Together, these insights underscored the DBS Chief Investment Office (CIO)’s strategy to blend income stability, growth opportunities, and diversification, positioning portfolios to capture upside while cushioning against volatility.
Interested in joining our curated expert discussions?
Let us contact you
