In our base case, a vaccine becomes available in the first half of 2021. However, of equal importance is the vaccine being sufficiently available, widely distributed and broadly accepted. We see some hiccups and setbacks in the process.
Our bull case sees multiple effective vaccines arriving earlier. Logistical challenges in vaccine distribution are dealt with effectively, and the economy is freed from the pendulum swing between lockdowns and re-openings. Here we see room for Keynes’ animal spirits.
Neither information nor any opinion expressed on the website constitutes a solicitation, an offer or a recommendation to buy, sell or dispose of any investment, to engage in any other transaction or to provide any investment advice or service. An investment in a Robeco product should only be made after reading the related legal documents such as management regulations, prospectuses, annual and semi-annual reports, which can be all be obtained free of charge at this website and at the Robeco offices in each country where Robeco has a presence.