Most experts have a bullish outlook for ASX shares in 2022 even as headwinds mount, although some sectors are tipped to perform better than others.
The risk of rising interest rates, inflation, the withdrawal of stimulus and the Omicron outbreak isn't expected to be enough to push equities into a bear market.
That's the view of several fund managers who were canvassed by The Australian. They believe that profit growth and the rebound from COVID-19 lockdowns will be enough to keep ASX shares in investors' good books.
ASX sectors to buy for 2022
But some sectors are better placed to deliver returns this year than others. The top ASX share picks by these fund managers include mining, energy and healthcare shares.
Saxo Capital Markets Australian market strategist, Jessica Amir, thinks that the CSL Limited (ASX: CSL) share price is a buy for 2022. The blood products biotech should enjoy an earnings recovery as its operations were hit by the pandemic.
She isn't alone in tipping the CSL share price as a potential strong performer this year. Marcus Today senior market analyst, Chris Conway, is also backing its shares as he calls CSL the "biggest and best at what it does".
ASX mining shares to watch this year
Another ASX share to add to your buy list is the BHP Group Ltd (ASX: BHP) share price. Conway noted that commodity prices tend to rise more than inflation.
Given growing price pressures across the global economy, the BHP share price could do better than the overall market.
Amir is also a fan of BHP and said that its shares were one of the most bought by Saxo's clients in recent months. She called the BHP share price Australia's "sleeping beauty mining giant".
No doubt the rebounding iron ore price will give supporters another reason to buy BHP.
Other ASX shares to bank on
Meanwhile, ASX bank shares are also looking well placed for 2022, added Amir. This is thanks to rising interest rates, which will give banks a reason to lift interest rates. That will only help bolster the sector's net interest margins.
Baker Young's managed portfolio analyst, Toby Grimm, echoed a similar view and his top bank pick is the Commonwealth Bank of Australia (ASX: CBA) share price.
There are also opportunities at the smaller end of the market. Forager Funds Management senior analyst, Gaston Amoros, is keen on underperforming small cap growth shares.
Buying opportunities among ASX small caps
These shares have been hit particularly harder by interest rate worries and some have underperformed their larger peers.
These include the Bigtincan Holdings Ltd (ASX: BTH) share price and Whispir Ltd (ASX: WSP) share price.
