For much of the year, 2023 was characterised by a volatile investment environment. It was another challenging year for investors. Rising interest rates had a conflicting impact on bond investments. US technology stocks dominated global equity markets.

The 2022 investment year was truly challenging for investors. Rising interest rates and falling equity prices dominated large parts of an extraordinarily difficult year. Developments around the world were shaped by high inflation – a knock-on effect from the pandemic, which was exacerbated further by the war in Ukraine.