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.

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Long-Term Capital Market Assumptions

Time-tested projections to help build stronger portfolios

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Multi-Asset Solutions 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.

Getting real about rates

The post-war era of substantially positive real interest rates may be gone for good.

Global Asset Allocation Views 1Q 2026

We anticipate modestly above-trend growth in 2026 and take a pro-risk tilt in portfolios. We remain overweight equity in the U.S., Japan, and parts of the emerging markets. On duration our stance is neutral, but with a steepening bias. We underweight USD.

Global Fixed Income Views 2Q 2026

Against the backdrop of a geopolitical and energy market shock, we significantly reduce the probability of economic expansion (still marginally our base case) and increase the likelihood of contraction. We see better risk-reward at the front end of the Treasury curve and find opportunity to go up in credit quality.

Global Equity Views 1Q 2026

The outlook for corporate profits is healthy. After a strong year of returns, we don’t see much room for valuations to rise further. Many of our investors are now a little more cautious on technology but still see big opportunities for stock selection within the sector.

Factor Views 1Q 2026

Factors rose on average in 4Q 2025, some to all-time highs, led by international developed market equity factors and the value factor. Macro factors were mixed: While momentum rose, dispersion in commodity markets dragged on the carry factor.

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