Portfolio Insights

Insights to build stronger portfolios

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

Most popular Insights

Monthly Strategy Report

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

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Building Stronger Portfolios

Multi-Asset Solutions' Asset allocation views are translated into a series of model portfolios to help investors make thoughtful, well-informed decisions in building and managing portfolios.

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Principles for Effective Portfolio Construction

A disciplined approach with key strategies and a systematic framework to build portfolios that help solve investor needs.

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Asset class views from our senior investors

Global Asset Allocation Views 4Q 2022

Anticipating subtrend growth well into 2023, we remain neutral duration and overweight cash. We underweight equities, expecting meaningful earnings downgrades. We take a neutral stance on credit, with a clear preference for investment grade over high yield.

Global Fixed Income Views 4Q 2022

Recession is our base case scenario, at 50%. We raised the likelihood of Crisis to 15% while lowering Sub Trend Growth to 30% and Above Trend Growth to 5%. We’re using market rallies to reduce our interest rate exposure and credit risk. Our best idea: high quality, short-dated cash flows.

Global Equity Views 3Q 2022

Though global equity markets are already down more than 20% this year, our portfolio managers remain cautious. In a downturn, quality matters, in managements and balance sheets.

The economic importance of biodiversity: Threats and opportunities

Biodiversity—an essential for life, especially food production—is being harmed by human impacts. Investors can help as new global commitments, metrics and initiatives emerge and companies improving biodiversity present new investing opportunities.

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Brave New World

The world around us is changing rapidly. With countless new investment opportunities emerging, how do we distinguish what will be truly enduring innovation from a passing fad or trend? It’s a critical question investors are asking, at a time of increased volatility.

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2022 Global Alternatives Outlook

A 12- to 18-month outlook for alternative assets and explore the most promising investment ideas from the CEOs, CIOs and strategists of our USD 200 billion-plus alternatives platform.

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Factor Views 4Q 2022

The factors that we favor held up well in a challenging 3Q 2022 market environment: Equity momentum, merger arbitrage and macro carry were all positive, and losses across other factors were relatively limited. We maintain our positive outlook for equity factors, which appear cheap.

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Municipal Bond Views 3Q22

Should investors be moving back into municipal bonds? We think munis’ strong fundamentals, and attractive yields since interest rates’ recent rise, present an opportunity to diversify portfolios with these high quality assets.

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Featured Portfolio Insights

The economic importance of biodiversity: Threats and opportunities

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Brave New World

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2022 Global Alternatives Outlook

A 12- to 18-month outlook for alternative assets and explore the most promising investment ideas from the CEOs, CIOs and strategists of our USD 200 billion-plus alternatives platform.

Learn more

Factor Views 4Q 2022

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Municipal Bond Views 2Q22

As rates rose in early 2022, municipal bond outflows began. Credit spreads are now wider and municipal bonds are cheaper relative to other fixed income alternatives. Municipal bond fundamentals, however, are solid—creating investment opportunities.

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