By Divya Chowdhury

MUMBAI -Some of the world’s biggest investors are looking beyond a boom in artificial intelligence to longer-term spending by governments tackling geopolitical, technological and demographic pressures set to reshape markets over the next few years.

Asset managers are spreading bets across infrastructure, energy transition, healthcare and defence, to capitalise on fiscal stimulus from governments, even as Wall Street debates whether the AI-powered rally in stocks is sustainable.

As concerns over some countries’ ballooning fiscal debts draw attention, many investors “underestimated the impact that (stimulus) could have on real and financial assets,” said Mark Haefele, chief investment officer of UBS Global Wealth Management.

Hafele told the Reuters Global Markets Forum

See Full Page