Portfolio Insights

Timely commentary, strategic perspectives and in-depth analysis from our investment teams to help guide your portfolio decisions.

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Asset class views from our senior investors

Global Asset Allocation Views 4Q 2024

We have growing conviction in a return to trend-like growth and an extension of the cycle. We overweight credit, which should offer equity-like returns over the next two to three quarters. In our equity overweight we favor the U.S., Japan and emerging market ex-China equity. We are neutral overall on duration.

Global Fixed Income Views 3Q 2024

Despite mixed data and the rarity of soft landings, the Fed may have engineered one. Our base case: 70% probability of Sub Trend Growth. An economy gliding to trend growth, and 2% inflation, have always been good for credit risk. This time should be no exception.

Global Equity Views 3Q 2024

Before the recent setback in markets, higher valuations and a narrow market in the U.S. had made our investors more cautious on the outlook. Profits remain healthy but forecasts for further gains in 2025 look aggressive.

Factor Views 3Q 2024

Factors delivered a solid quarter, moving to their own beat as Magnificent 6 stocks surged. Equity momentum led; other factors diverged across regions, sectors and individual factors. Factors continue to offer a range of opportunities.

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