SINGAPORE - Sticky inflation, high interest rates and slower growth will remain the hallmarks of the global economy for at least a few more years – raising the downside risks for investment returns, said Singapore’s sovereign wealth fund GIC.

The outlook chimes with the views of the other two state investors – Temasek and the Monetary Authority of Singapore (MAS) – which also expect financial markets to remain challenging for the next two to three years amid a confluence of events not seen in decades, such as persistent inflation, multiple rate hikes and intensifying geopolitical tensions, alongside rising nationalism and protectionism.