SEB: Investment Outlook, December 2011: Investm...

Right now, investors around the world are experiencing a period of almost
unprecedented financial turmoil. Natural assumptions and associations that were
once valid, such as the safe harbour status of government bonds, have been
turned upside down. Nowadays there is very little confidence in the capacity of
political leaders to solve problems and confidence in the financial markets. The
methods we should employ as investors are undergoing continuous adjustments.

Many investors have become tired of the stock market. As government bonds - an
old classic return-based instrument - also lose their appeal, corporate bonds
are gaining new ground. Meanwhile dividends and current returns are increasingly
important. Investors move in herds, either into or out of different investments
that carry risks of various kinds. This creates capital flows that are sometimes
unjustified, and it is thus possible to find attractive valuations here and
there.

The task of investment advisors is to acclimatise themselves to the financial
reality we live in and determine how they believe the markets will move in the
future. Based on this, they develop new methods for generating returns
globally.

"Among other things, we believe that the European corporate bond market will
probably evolve like the North American one. Now that many governments are
financially weakened and teetering on the brink of ruin, corporate bonds issued
by solid companies appear to be a safer choice. A stable balance sheet, with
good sales that are not entirely dependent on economic cycles, is a very
powerful argument today," says Hans Peterson, Global Head of Investment Strategy
at SEB Private Banking.

But even in today's macroeconomic situation, there are bright spots that the
investor community can focus on. The economic picture in Asia provides hope of
gentler monetary policies, and American economic growth has provided upside
surprises on various fronts, including evidence of stronger industrial activity.

"At the moment, we are in the midst of a period when national government
finances are undergoing a kind of repair process, which of course is positive in
the long term. It is important to remember that a new phase will come after the
current one. The problems that Europe in particular is now going through will
take time to resolve, but for investors the most important things is to obtain
an indication that credible solutions are on their way," Mr Peterson concludes.

Investment Outlook gives readers an in-depth look at the investment climate for
seven asset classes and provides them with suggestions and advice about current
risks and opportunities in the art of investing. The report can be read in its
entirety at 

http://newsroom.sebgroup.com/en/.

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|For further information, please     |Press contact                            |
|contact                             |Claes Eliasson, Press & PR               |
|Hans Peterson, Global Head of       |[phone]                         |
|Investment Strategy,                |[e-mail]                    |
|SEB Private Banking, tel:           |                                         |
|+46 8 763 69 21                     |                                         |
|                                    |                                         |
|                                    |                                         |
+------------------------------------+-----------------------------------------+
|SEB is a leading Nordic financial services group. As a relationship bank, SEB |
|in Sweden and the Baltic countries offers financial advice and a wide range of|
|financial services. In Denmark, Finland, Norway and Germany the bank's        |
|operations have a strong focus on corporate and investment banking based on a |
|full-service offering to corporate and institutional clients. The             |
|international nature of SEB's business is reflected in its presence in some   |
|20 countries worldwide. On September 30, 2011, the Group's total assets       |
|amounted to SEK 2,359 billion while its assets under management totalled      |
|SEK 1,241 billion. The Group has about 17,600 employees. Read more about SEB  |
|at www.sebgroup.com.                                                          |
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Press Release (PDF) : 


http://hugin.info/1208/R/1567191/486795.pdf

Investment Outlook : 


http://hugin.info/1208/R/1567191/486796.pdf




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