Economists can provide a framework for determining the long-run movements in interest rates. Empirical research augmented by historical evidence shows nominal interest rates do converge toward some equilibrium rate, or “natural” real rate of interest adjusted for expected long-run inflation over time.

There is a lot I personally could say about Michael, but I thought I’d dedicate this space to enabling others to help paint a picture of the kind of individual he was, as well as the impact he had on the investment and investment management communities he served so well over the years.

In December 2016, Beijing topped the Schroders Global Cities 30 index, ahead of Shanghai, which ranked No 1 this past August 2016 in the first publication of the index.

December 2016 capped off a very tough quarter — and highly-volatile year— for both Asia Pacific and global property stocks, with the markets declining 8.7 percent and 5.7 percent, respectively, in the fourth quarter.