4 Nov 2016 at 12:00pm
Frankfurt am Main, Germany
eabh in cooperation with Allianz Global Investors
This talk will be the premiere presentation of Moritz Schularick’s (Professor at University of Bonn) recent study on the development of all asset returns during the 20th century in all industrial countries. In view of the current extremely low interest rates, his view on historical episodes with extraordinary low nominal and real interest rates promises interesting insights.
The underlying research: ‘The rate of return on everything, 1870-2015’ is based on a comparative study of returns on bonds, equities and housing for 17 countries. The results offer – for the first time ever – a comparative view on returns, volatilities, risk premia, etc. over a statistically significant period of time.
Based on Moritz’s argument, Stefan Hofrichter (Head of Global Economics & Strategy Allianz Global Investors) will continue to give an outlook to long-term asset returns taking into account current evaluations and historical parallels.
Discussion with the audience is planned and all participants are kindly invited to join the discussants for a networking lunch kindly sponsored by AllianzGI.
|12.00 - 12.05||Welcome|
Ingo Mainert, CIO Multi Asset Europe, AllianzGI
Carmen Hofmann, Secretary General eabh
|12.05 12.35||'The rate of return on everything, 1870-2015'|
Moritz Schularick, University of Bonn
|12.35 - 12.50||'Asset returns: a long-term outlook'|
Stefan Hofrichter, Head of Global Economics & Strategy Allianz Global Investors
|12.50 - 13.15||Discussion with the audience|
Moderator: Carmen Hofmann, Secretary General of eabh
|13.15 - 14.00||Networking lunch kindly sponsored by AllianzGI|