In this edition of Portfolio Perspectives Live, Chief Investment Officer Kevin Gardiner and senior investment professionals - Roberta Gamba, Jaime Arguello, Rupert Howard and Palak Patel - discuss some of the key macro events affecting discretionary portfolios over the previous quarter. With markets shrugging off a stream of political and monetary-policy risks over recent months, we ask our panel whether the optimism is warranted and where it might take portfolios next. Also discussed is currency risk and the role of active management in a market marching towards normalisation.