<br />
®<br />
Climbing over the wall of worry:<br />
Building enduring global portfolios<br />
Mid-year Outlook 2018<br />
Outlook 2018 Watchlist<br />
The average client portfolio has<br />
45% of assets that aren’t aligned<br />
to the recommended allocation*<br />
How does yours compare?<br />
Failing to follow an established long-term plan is one of<br />
the main reasons why families can drift below the world’s<br />
wealthiest over time.<br />
To help keep your portfolio aligned to your recommended<br />
allocation and to our investment themes, we can provide<br />
you a detailed report showing how your portfolio compares<br />
to key benchmarks.<br />
Your relationship team can then recommend ways for you<br />
to address any issues identified.<br />
To request your report, please reach out to your Banker<br />
or Investment Counselor.<br />
*Source: Citi Private Bank Global Investment Lab, as of 23 May 2018. Recommended allocation<br />
is the reference al<a title="Mid-year Outlook 2018 - final page 1" href="http://viewer.zmags.com/publication/fc6aaeeb?page=1"> ® Climbing over the wall of worry: Building</a>
<a title="Mid-year Outlook 2018 - final page 2" href="http://viewer.zmags.com/publication/fc6aaeeb?page=2"> Outlook 2018 Watchlist The average client portf</a>
<a title="Mid-year Outlook 2018 - final page 3" href="http://viewer.zmags.com/publication/fc6aaeeb?page=3"> Climbing over the wall of worry: Building endurin</a>
<a title="Mid-year Outlook 2018 - final page 4" href="http://viewer.zmags.com/publication/fc6aaeeb?page=4"> Contents 2 Robust strategies </a>
<a title="Mid-year Outlook 2018 - final page 5" href="http://viewer.zmags.com/publication/fc6aaeeb?page=5"> FOREWORD ‘What do I do now?’ In eve</a>
<a title="Mid-year Outlook 2018 - final page 6" href="http://viewer.zmags.com/publication/fc6aaeeb?page=6"> Robust strategies for a strongman’s world Steven </a>
<a title="Mid-year Outlook 2018 - final page 7" href="http://viewer.zmags.com/publication/fc6aaeeb?page=7"> Stay bullish, be selective, go global </a>
<a title="Mid-year Outlook 2018 - final page 8" href="http://viewer.zmags.com/publication/fc6aaeeb?page=8"> Figure 2. Asset class performance and positioning</a>
<a title="Mid-year Outlook 2018 - final page 9" href="http://viewer.zmags.com/publication/fc6aaeeb?page=9"> Compare this with the situation just a few years </a>
<a title="Mid-year Outlook 2018 - final page 10" href="http://viewer.zmags.com/publication/fc6aaeeb?page=10"> More diversification, please In light of this, we</a>
<a title="Mid-year Outlook 2018 - final page 11" href="http://viewer.zmags.com/publication/fc6aaeeb?page=11"> Figure 5. Fixed income during the S&P 500’s worst</a>
<a title="Mid-year Outlook 2018 - final page 12" href="http://viewer.zmags.com/publication/fc6aaeeb?page=12"> Portfolios for a strongman’s world Almost halfwa</a>
<a title="Mid-year Outlook 2018 - final page 13" href="http://viewer.zmags.com/publication/fc6aaeeb?page=13"> Figure 6. Fewer jobless, rising rates Unemployme</a>
<a title="Mid-year Outlook 2018 - final page 14" href="http://viewer.zmags.com/publication/fc6aaeeb?page=14"> Build an enduring global investment portfolio now</a>
<a title="Mid-year Outlook 2018 - final page 15" href="http://viewer.zmags.com/publication/fc6aaeeb?page=15"> Enduring portfolios are global and diversified Gl</a>
<a title="Mid-year Outlook 2018 - final page 16" href="http://viewer.zmags.com/publication/fc6aaeeb?page=16"> Figure 3. The importance of following the plan M</a>
<a title="Mid-year Outlook 2018 - final page 17" href="http://viewer.zmags.com/publication/fc6aaeeb?page=17"> Stay invested and stay disciplined As well as be</a>
<a title="Mid-year Outlook 2018 - final page 18" href="http://viewer.zmags.com/publication/fc6aaeeb?page=18"> And do not overweight cash Holding excess cash i</a>
<a title="Mid-year Outlook 2018 - final page 19" href="http://viewer.zmags.com/publication/fc6aaeeb?page=19"> Helping to preserve existing gains and manage por</a>
<a title="Mid-year Outlook 2018 - final page 20" href="http://viewer.zmags.com/publication/fc6aaeeb?page=20"> Make all of your cash work harder Six policy rat</a>
<a title="Mid-year Outlook 2018 - final page 21" href="http://viewer.zmags.com/publication/fc6aaeeb?page=21"> Figure 9. High yield opportunities Yield (%) 8</a>
<a title="Mid-year Outlook 2018 - final page 22" href="http://viewer.zmags.com/publication/fc6aaeeb?page=22"> Identifying opportunistic investments for endurin</a>
<a title="Mid-year Outlook 2018 - final page 23" href="http://viewer.zmags.com/publication/fc6aaeeb?page=23"> Increase allocations to Chinese securities As</a>
<a title="Mid-year Outlook 2018 - final page 24" href="http://viewer.zmags.com/publication/fc6aaeeb?page=24"> Invest in digital infrastructure Asset class </a>
<a title="Mid-year Outlook 2018 - final page 25" href="http://viewer.zmags.com/publication/fc6aaeeb?page=25"> Seek floating rate US dollar fixed income returns </a>
<a title="Mid-year Outlook 2018 - final page 26" href="http://viewer.zmags.com/publication/fc6aaeeb?page=26"> Long Mexican peso volatility amidst political unc</a>
<a title="Mid-year Outlook 2018 - final page 27" href="http://viewer.zmags.com/publication/fc6aaeeb?page=27"> Buy Eurozone cyclicals and banks Asset class </a>
<a title="Mid-year Outlook 2018 - final page 28" href="http://viewer.zmags.com/publication/fc6aaeeb?page=28"> The investor must ascertain if they are suitable </a>
<a title="Mid-year Outlook 2018 - final page 29" href="http://viewer.zmags.com/publication/fc6aaeeb?page=29"> Glossary Asset class definitions Cash is re</a>
<a title="Mid-year Outlook 2018 - final page 30" href="http://viewer.zmags.com/publication/fc6aaeeb?page=30"> The MSCI with DM Exposure Index is derived from t</a>
<a title="Mid-year Outlook 2018 - final page 31" href="http://viewer.zmags.com/publication/fc6aaeeb?page=31"> Disclosures In any instance where distribution o</a>
<a title="Mid-year Outlook 2018 - final page 32" href="http://viewer.zmags.com/publication/fc6aaeeb?page=32"> If you buy options, the maximum loss is the premi</a>
<a title="Mid-year Outlook 2018 - final page 33" href="http://viewer.zmags.com/publication/fc6aaeeb?page=33"> Additionally, the underlying collateral supportin</a>
<a title="Mid-year Outlook 2018 - final page 34" href="http://viewer.zmags.com/publication/fc6aaeeb?page=34"> Notwithstanding anything to the contrary, you her</a>
<a title="Mid-year Outlook 2018 - final page 35" href="http://viewer.zmags.com/publication/fc6aaeeb?page=35"> </a>
<a title="Mid-year Outlook 2018 - final page 36" href="http://viewer.zmags.com/publication/fc6aaeeb?page=36"> </a>