The Review — 06/03/2018 at 16:00

Demographic Shifts and What They Mean for Investors



At KKR, we are committed to finding new ways of sharing our best individual and collective insights with our clients and partners. Our new publication, KKR Viewpoints, seeks to provide analysis and perspective on issues that we believe to be relevant to our business and broader macroeconomic world at large. This week we published the inaugural issue, authored by Ken Mehlman and Paula Campbell Roberts, which examines What Does Population Aging Mean for Growth and Investments?

We are currently undergoing a major demographic shift as the Baby Boomer population retires and ages. Also concurrent to this shift has been the rapid rise in global technology, evolving immigration sentiment, and the Millennial coming–of–age. Unless economies expand their labor forces and/or improve productivity, we face slower long–term growth and a widening income gap.

In the first section of this paper, the team delves further into the impact of demographic shifts on the economy and investments. In particular, they look at aging and its impact on growth, consumption, urbanization and consumer preferences. Following this global review, they consider steps nations have and may continue to take to counteract these demographic headwinds, including leveraging technological innovation and immigration to build larger and more productive workforces. They then delve deeper into demographic trends in 6 countries– Mexico, China, U.S., U.K., Germany and Japan. Throughout this paper, the team provides specific investment themes to consider.

As a bonus to the published report, below you can find an audio recording of Ken Mehlman and Paula Campbell Roberts discussing a few key discoveries from their research, which is further described in the paper.

Listen : KKR Viewpoints- Ken Mehlman and Paula Campbell Roberts

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