Steppes Alternative Asset Management are targeting growth markets as a core element of its future business.
Despite the happenings over the past year, which has bought some short term volatility, growth markets such as China, India, SE Asia and Africa, are the engines for global growth. It is these countries that are seeing larger increases in population
The global population has grown from 3.6 billion in 1970 to just under 7.8 billion in 2020 and is forecast to grow to over 8.5 billion by 2030 and over 9.5 billion by 2050 (over two thirds of whom will be in developing markets). The global middle class population is expected to grow to 5.3 billion by 2030 leading to larger areas of growth in global spending.
This increased global population will lead to greater urbanisation that will continue to drive growth, between now and 2050, it is predicted that the 3.5 billion people currently living in cities around the world will increase to over 4.5 billion by 2030 and over 6 billion by 2050.
The Asia Pacific region currently has 55% of the world’s population, 30% of global GDP but less than 5% of the Alternative Asset Management industry, and we believe the factors mentioned above will drive investment in this area and is a core target market.