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Rising rates and economic uncertainties meant MA deals declined last year. More stable conditions and continued private-equity buying could mean the situation improves.
By Jacques HENRY, Head of Equities, Djâafar ABALLECHE, Senior Cross-Asset Specialist, Pictet Wealth Management
The economic environment in 2022 was particularly unfavourable for MA. The war in Ukraine, soaring energy prices and rising inflation shook investor confidence, while tightening monetary policy weighed on the ability of companies to finance transactions. Resilient in the first half of the year, MA activity slowed down significantly in the second half.
The drop in equity markets in 2022 meant that the proportion of stock...
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