Fund managers ‘excited’ about the end of cheap money

Investors from the Future Fund to hedge fund GMO are preparing for a stock pickers market as interest rates near their peak in the cycle.

Sarah JonesMarkets Editor

Apr 28, 2023 – 5.49pm

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As the era of cheap money comes to an end after the fastest monetary tightening in a generation, fund managers say they are “excited” about the investment opportunities that higher volatility will throw up.

Speaking at The Australian Financial Review Alpha Live Summit this week, James Montier, senior investment strategist at GMO, said current market conditions were much more “appealing” for the Boston-based hedge fund.

Sarah Jones is the Financial Review’s markets editor based in the Sydney newsroom. She has covered financial markets, economics and asset management for more than two decades including 12 years for Bloomberg in London.