“Higher inflation, interest rates and volatility are already here, subduing investor confidence,” said Caridade-Ferreira.
“But the terrible war being waged by Russia on Ukraine, if not quickly contained, will weigh on the industry and investor sentiment for the foreseeable future.
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“Risk aversion will soar. Higher interest rates and the precautionary motive to save will be a magnet for risk-averse investors. Against all odds, the platform industry was home to its best sales in 2021 but that is unlikely to be repeated in 2022.”
ruby.hinchliffe@ft.com
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