Alternative Investment Opportunities Through a Slowing Economy

A sequence of equity opportunities: Finding value beyond narrow leadership Unlike 2022when markets were closelycorrelated, this year has seen a reneweddivergence, leading to potential sequential investment opportunitiesacross regions. For alternative investments, this drives two distinct investment themes across equityand other asset classes: • First, we are focusedon strategies specificallysuited to capitalizingon liquiditydislocations in capital markets and private markets to seek equity-like returns • Secondly, for equity investments, we are focusedon strategies across hedge funds and private equitythat may add value via active management for asset selectionand operational improvement All forecasts are expressions of opinion and are subject to change without notice and are not intended to be a guarantee of future events. OPPORTUNITIES | WEALTH OUTLOOK 2023 | MID-YEAR EDITION │ ALTERNATIVE INVESTMENTS | 14