Investec's 10 multi-asset investment themes for 2013

Investec multi-asset duo Philip Saunders and Max King (pictured) share their top 10 global investment themes for 2013.

1. Divergent economic prospects in 2013 Over the last year forecasts for global growth in 2013 have been stable at a little over 3% on a purchasing power basis, and a little under 2.5% on actual currencies. This is similar to the probable outturn for 2012. However, divergence is likely to increase. Overall, growth in emerging economies is likely to remain strong and in developed markets weak. Despite fiscal retrenchment in the US, we expect growth of 2-2.5%. The UK is held back by declining output from the North Sea, over-dependence on Europe for exports and a secular decline in fi...