North American asset management in a year of many shocks but few surprises. Mc Kinsey Report-Dec 2020

In 2020, almost everything has been shocking, but very few things
have been surprising. A historic pandemic has caused perhaps
the largest humanitarian tragedy in a generation, triggering a
global economic downturn only comparable in magnitude to
the Great Depression (Exhibits 1,2). The confluence of these two
shocks could reverse a decade or more of progress in fighting
poverty and improving education, gender equality, and human
health. Further, it has cast a sharp spotlight on longstanding
social and political fissures over which millions have taken to the
streets in protest and which have taken center stage in a heated
US election cycle. It is fair to say we have seen 10 years of change
in the last 10 months, and these shocks are in no way over.