Since the GFC, global economic growth has been weak, particularly across the developed world, and this is a trend which we expect to continue long after the COVID-19 crisis. The world economy is facing numerous structural headwinds including high levels of debt, ageing populations, rising wealth inequality, technological disruption, and environmental disruption brought about through climate change. Globalisation has also made the world a much more competitive arena. COVID-19 did not create these headwinds, but it will exacerbate most of them and their effects. For this reason, we continue to hold the view that a growth-based investment style will continue...