IFIA: Asset management industry needs to respond to inflation risk, Malmgren says

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Most investors still do not understand the difference between real and nominal investment returns, according to Dr Philippa Malmgren, president of Principalis Asset Management.

Dr Malmgren in her keynote address to the Irish Funds Industry Association annual global funds industry conference earlier this week discussed the social contract between the state and its citizens as being a relationship between creators of wealth and the state which wants to tax it.

She told the audience: “The recrimination phase of the economic cycle does not subside easily and we will have to get back to some growth and we will probably