(Bloomberg) -- Saudi Arabia’s flagship investment conference began on Wednesday with top global asset managers predicting that 2021 would bring a return to growth as nations get the Covid-19 pandemic under control -- and with it a rise in inflation.“We will see a rebound in growth and a rebound in inflation,” Bridgewater’s Ray Dalio said during the opening panel of the Future Investment Initiative, or FII. “With that, you’re also going to see a pick up in deficits,” leading governments to sell more bonds.That view was shared by BlackRock Chief Executive Larry Fink, who predicted that developed countries would likely reach herd immunity around September. “I think we are going to have a huge amount of job creation, but all these elements are highly potentially inflationary.”Saudi Crown Prince Mohammed bin Salman’s signature event will host top global executives like Goldman Sachs Group Inc.’ David Solomon, Blackstone Group Inc.’s Steven Schwarzman and SoftBankCorp.’s Masayoshi Son.BlackRock’s Fink Sees a Return to Growing Inflation (4:46 p.m.)“It is fair to assume we are going back into an era of growing inflation,” Fink said, predicting that developed countries would establish herd immunity against Covid-19 around September.China’s Currency May See More Demand, Says Dalio (4:36 p.m.)China is moving toward “internationalization” of its currency which may see more demand, Dalio said. Last year was a defining one for China, he added, and it did a “remarkable” job differentiating growth and developing attractive markets for foreign investors.Credit Suisse CEO Says UK Will Recover from Brexit Challenge (4:34 p.m.)Credit Suisse Chief Executive Officer Thomas Gottstein said the UK would eventually recover from the challenges posed by its withdrawal from the European Union.“I’m convinced that also the UK will do just fine over time,” he said. “In the short term it (Brexit) is a challenge.”Saudi’s Public Investment Fund Chief Says Investing in Tech, Pharma (4:30 p.m.)Yasir Al-Rumayyan, who heads Saudi Arabia’s sovereign wealth fund, said the PIF was investing in a full spectrum of technology, early stage autonomous driving and pharmaceuticals but is concerned about the growing power of larger tech firms.“We are worried not only from the valuation standpoint about how some of these technology companies are having bigger powers,” he said, “and a lot of the regulators in the world are beginning to be more concerned.”Rumayyan also said he was increasingly cautious about the disconnect between “real economy and financial markets”BlackRock’s Fink Says Fundamentals Favorable in 2021 (4:26 p.m.)“The fundamentals going into 2021 and beyond are pretty favorable for long-term investors,” BlackRock Inc. Chief Executive Officer Larry Fink said. He also said $50 trillion needs to be put to work to get to net carbon zero.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.