The council, made up of 10 senior figures in wealth management groups around the world, is a forum for exchanging knowledge and ideas on macroeconomics, asset allocation and the role of private markets – in which KKR is a major player.

KKR, aka Kohlberg Kravis Roberts, the US-listed investment firm, today said it had launched its Global Wealth Investment Council (GWIC), comprising 10 experts from wealth management firms around the world.

The GWIC is a forum for dialogue and knowledge exchange on macroeconomics, capital markets, asset allocation and the role of private markets in individual portfolios.

Members of the council:
-- Sid Ahi, co-CIO of private clients, endowments and foundations, Brown Advisory; 
-- Karim Cherif, head of Alternatives, chief investment office, UBS Wealth Management International; 
-- Jean Chia, global chief investment officer, Bank of Singapore; 
-- Jason Draho, head of asset allocation for Americas, UBS Global Wealth Management; 
-- Christopher Hancock, chief investment officer, Brown Advisory; 
-- Tomochika Kitaoka, managing director, chief strategist, Nomura Securities Fiduciary Research and Consulting, CIO Management Division; 
-- Stephanie Link, chief investment strategist, portfolio manager, Hightower Advisors; and 
-- Lisa Shalett, CIO, Morgan Stanley Wealth Management

Concerns
To mark the council’s launch, KKR said a survey of council members showed that they are concerned about sticky inflation, and the potential slowdown in consumer spending and job growth. Most members think that North America is best positioned for economic growth in 2024, while China faces the largest challenges.

Most council members also think the economy will experience a “soft landing” – however, their views are mixed on the timing of rate cuts and the outlook for the US dollar.

In asset allocation terms, most council members are overweight cash and underweight alternative investments.