‘The biggest risk for investors isn’t El Niño, but growing scarcity across the board’

Rather than viewing the predicted ‘Super El Niño’ as an investment opportunity, investors see the natural phenomenon as yet another reason to prepare portfolios for a global economy in which multiple forms of scarcity are emerging simultaneously. Above all, portfolios need to be ‘inflation-resilient’, according to strategists at Achmea IM and APG.