The Covid-19 outbreak sent global markets into free fall. "The pandemic led to a virulent market sell-off, with risky assets losing 30% of their value within 25 days," says Ndabe Mkhize, chief investment officer at the Eskom Pension & Provident Fund.

Asset managers must now claw back losses and exploit opportunities amid the threat of new infection waves, which could scupper economic recoveries.

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