In the sixth and final blog in a series from the Troika Dialog Investment Forum in Moscow, moderator Anton Rakhmanov put delegate questions to a panel of investment professionals.

Anton Rakhmanov: Where does the big money go in difficult times?

Richard Lacaille, Global Chief Investment Officer, State Street Global Advisors: Last year saw limited risk-on, but this was strongly hedged with small overweight in equities. The US will continue to be strong. The US elections will add to volatility, but US equities will make net gains.

Europe is hostage to slow growth and a strong currency but European equities have outperformed the economy in Europe. A small overweight in global emerging markets. Greece and Portugal are insolvent rather than illiquid, and there will be a resolution at some point this year.