Portfolio Insights

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

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Long-Term Capital Market Assumptions

Time-tested projections to help build stronger portfolios

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Monthly Strategy Report

Highlights key developments in markets and economies, and examines the potential investment implications for multi-asset portfolios.

Global Alternatives Outlook

Explore the most promising investment ideas across our global alternatives platform and learn why alternatives are no longer optional—but essential.

Global Asset Allocation Views 1Q21

The main driver of asset returns likely transitions from liquidity to growth in 2021. We maintain a pro-risk tilt, prefer cyclical equities, are neutral on U.S. large caps and in credit favor EM debt. We move duration from underweight to neutral.

Global Fixed Income Views 1Q21

Above Trend Growth remains our base case as vaccinations start and global reopening begins. Inflation is a risk but we think it would be short term. Our preferences include emerging market local bonds, investment grade bank credit, high yield bonds.

Global Equity Views 1Q21

While valuations are much higher and speculative activity is on the rise, our investors take comfort from powerful corporate profit growth and favorable comparisons with exceptionally low bond yields. Within markets, we recommend a balanced approach.

Factor Views 1Q21

As equity markets hit record highs, the equity value and size factors got a boost, but equity momentum and quality factors plunged. Our outlook remains optimistic while we acknowledge that above-average returns may require a shift in market sentiment.

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