JPMorgan Asset Administration chief warns on industrial actual property dangers
The chief government of JPMorgan Asset Administration has warned that industrial actual property kinds one of many crucial areas of danger in world markets after the aggressive financial tightening by the US central financial institution.
“When the Federal Reserve hits the brakes, one thing goes by means of the windshield,” George Gatch mentioned on the $2.5tn asset supervisor’s European Media Summit on Tuesday.
“We noticed that with a bursting of a speculative bubble, of Ark [Invest],” mentioned Gatch, referring to progress investor Cathie Wooden, whose flagship fund’s share worth dropped by two-thirds final 12 months however has since partially rebounded.