2022: A very unusual year

Last year was a nightmare best forgotten. This year started on a strong note for investors, but private markets are still due for a further shakeout

While investors in India have heard how tough 2022 was for global investors, most do not fully appreciate the extent of global wealth destruction. India, after all, had its seventh year of positive equity market returns in local currency terms (though it had negative 8.6 per cent returns in dollar terms). Indian markets are also not that far from their all-time highs. Most investors in
Indian stocks are still in the money as we speak.

However, for global investors, 2022 was a nightmare best forgotten. Just for context, global equities, bonds and crypto assets combined have seen a drawdown