2022 Market Outlooks on Equites, Fixed Income, Real Estate

San Mateo, CA, December 15, 2021 – Five of the specialist investment managers of Franklin Templeton, a global asset management firm, provide their annual outlooks for the global economy and key asset classes. They include the following:

  • Brandywine Global Investment Management provides its global credit outlook and its macroeconomic outlook. Headquartered in Philadelphia, Brandywine Global looks beyond short-term, conventional thinking to rigorously pursue long-term value. It has $67 billion in assets under management (AUM) as of September 30, 2021.
  • Clarion Partners provides its views on U.S. commercial real estate. Clarion Partners is a leading U.S. real estate investment manager headquartered in New York with approximately $65.9 billion in total AUM as of September 30, 2021.
  • ClearBridge Investments provides two outlooks: U.S. equities and global infrastructure. Headquartered in New York with $196 billion in AUM as of September 30, 2021, it is an authentic active global equity manager with a legacy dating back over 50 years.
  • Royce Investment Partners, a small-cap specialist since 1972, has $16.2 billion in AUM. It is headquartered in New York.
  • Western Asset Management provides its global fixed income outlook. Western Asset is a globally integrated fixed-income manager, sourcing ideas and investment solutions worldwide. Based in Pasadena, CA, it has $483.5 billion in assets under management as of September 30, 2021.

Brandywine Global: Global credit outlook by Brian L. Kloss, JD, CPA, Portfolio Manager

Given expectations for a vaccine and the tremendous policy responses at work, we see a very high likelihood of a cyclical recovery” was how we started our commentary a year ago in December of 2020. It does feel as if we could start this year’s commentary with a similar outlook. That being said, looking out to 2022, one can expect some events to be similar while others are going to be quite different. Vaccines, therapeutics, Delta, Omicron, Pfizer, Moderna—the list of pandemic nomenclature goes on, and all these terms will continue to be focal points for markets as we as a global community continue to deal with that virus we all wish we could forget—COVID-19. As we move into the third calendar year managing and living with COVID, markets continue to adjust and adapt as scientists and policymakers continue to make significant inroads, all while the virus eventually moves from a pandemic to endemic.