Oil is the spark — the cost of capital is the story
Higher oil prices are refocusing markets on inflation and the Fed, but the bigger investment story may be a broader shift toward a higher cost of capital and new diversification challenges.
Top of Mind: Challenging false investment dichotomies
Multi-Asset Strategist Adam Berger takes on three familiar investment debates where rigid “either/or” thinking may not serve investors well: active vs passive, US vs non-US, and public vs private.
Follow the money: 3 ways wealth is reshaping economic and investment outcomes
We explore how macroeconomic, demographic, and sector-specific trends are reshaping commercial real estate, and why selectivity by sector, asset, quality, and capital structure may matter more than broad asset-class exposure.
How AI is impacting the high yield market
Fixed Income Portfolio Manager Blake Huynh examines how AI is reshaping the high-yield market using the latest issuance data. He explores what this transformation may mean for investors.
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Warsh as Fed chair: Something for everyone
Macro Strategist Juhi Dhawan shares five key takeaways on Kevin Warsh, President Trump’s nominee to be the next Fed chair, including thoughts on interest rates, deregulation, and the market impact.
Top 5 fixed income ideas for insurers in 2026: Give ground on risk, but just a little
With a note of cautious optimism, we consider a range of fixed income ideas for insurers, from investment-grade private credit to emerging market debt.
2026 Insurance Outlook: Cautious optimism and a second bite at the apple
Members of our Insurance team share their economic expectations, investment ideas, and a regulatory roundup for the year ahead.
More from the core: How fundamental extension (140/40) strategies could help
Extension strategies may offer investors more flexibility in portfolio construction, along with potential to achieve greater risk-adjusted returns, thus delivering “more from core” in equity allocations without taking on significantly more tracking risk.
CLO equity insights: Thinking fast and CLO
We explore how short-term arbitrage and long-term structural optionality interact in CLO equity investing, and why reinvestment, convexity, and refinancing options have historically played central roles in driving returns.
An active management partner for the near and long term
CEO Jean Hynes focuses on key themes driving our evolving capabilities and client collaboration, including AI's transformative potential and new thinking about equity, fixed income, and alternative allocations.
Succession planning: lessons for investors from three sectors
Equity Portfolio Manager Yolanda Courtines and Investment Director Alex Davis explore the importance of CEO succession planning for investors through three sector case studies.
The spending bubble driving corporate profits looks set to burst
US corporate profits have been fueled by government deficits, low rates, and consumption — drivers now at risk, raising questions about the sustainability of market valuations.
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Oil: The real influencer in the Venezuela intervention
Multi-asset Strategist Nanette Abuhoff Jacobson details the role of oil in the recent events in Venezuela and shares the investment implications.
Geopolitics in 2026: Risks and opportunities we’re watching
Geopolitical Strategist Thomas Mucha shares his outlook, highlighting conflicts to watch, the importance of national security, and investment opportunities.
Why materiality assessments (still) matter
Our Value Creation Team explores why materiality assessments matter for private companies and outlines a practical five-step approach to identifying the issues that most influence financial performance, resilience, and long-term value.
Top of Mind: The allocator’s checklist for 2026 and beyond
Multi-Asset Strategist Adam Berger offers near- and longer-term ideas for allocators, including thoughts on alternatives, potential market surprises, and risk management.
The three drivers of resilient portfolios in 2026
What does a world of lower forward-looking return expectations mean for portfolios in 2026? For Head of Solutions Natasha Brook-Walters, it suggests a deliberate, targeted approach to portfolio construction and a focus on three key areas: the role of alpha, the role of income and the role of uncorrelated return streams.
Markets & the economy into 2026: scenarios to watch
In this ActiveViews webcast, host Will Lockhart and Macro Strategist John Butler explore potential macro scenarios for 2026 and set out the key implications for investors.
FOMC: Easing into uncertainty
Fixed Income Portfolio Manager Jeremy Forster profiles the Fed's December rate cut, labor market trends, inflation pressures, and the role of anticipated changes to FOMC leaders in 2026.
The power of Asia’s dividends
Discover Asia’s quality dividend potential. With diverse income sources, structural tailwinds, and governance reforms at play, Asia offers a compelling mix of income, resilience, and long-term growth potential.
Inflation, volatility, and valuations: 3 reasons hedge funds fit today’s market
Our multi-asset strategists explain why economic and market conditions in the year ahead could make a compelling case for adding hedge funds to the asset allocation mix, including multi-strategy and equity long/short hedge funds.
Is AI taking over? Portfolio and productivity insights for asset allocators
Amid questions about corporate spending, valuations, and technology exposure, Global Industry Analyst Brian Barbetta and Multi-Asset Strategist Adam Berger take a deep dive on the AI landscape, offering investment insights and ideas for using AI to improve productivity.
Sustainable commodities: Rethinking investment strategies for a changing climate
As climate change and the energy transition reshape global markets, commodities are gaining renewed attention as inflation hedges and portfolio diversifiers. This article introduces a climate integration framework for evaluating commodity investments through both sustainability and financial lenses.
Transition at risk: Checking in on corporate decarbonization progress
Corporate climate transitions face ambition-execution gaps. Success requires integrating decarbonization into business strategy, focusing on emissions, pragmatic Scope 3 approaches, transparency, and credible plans. See how our experts are thinking about this.
Investing in climate solutions across public and private markets
Collaboration between public and private market investors can be powerful. Opportunities where expertise and resources can be shared to accelerate innovation and deployment are optimal. Our experts explore how AI, geopolitics, and global policy are reshaping climate solutions across sectors.
Rapid Fire Questions with Ross Dilkes
In this edition of “Rapid Fire Questions,” fixed income portfolio manager Ross Dilkes shares his views on the Asia credit market—covering the macro outlook, China’s momentum, the most compelling opportunities across the region, and key risks shaping the next 12 months.
What does the new economic era mean for equities?
The twists and turns of 2025 have reinforced the sense that the global economy is undergoing a structural shift — towards higher inflation, more volatile business cycles and a potential gradual unwinding of decades-long globalisation. However, with flexibility and careful positioning, there are reasons to be positive about the outlook for global equities
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Human capital management for private companies
We discuss why effective people management is critical for private companies and outline four strategic focus areas that can help companies navigate evolving employee needs, regulatory changes, and investor expectations.
Is all that glitters still gold?
Gold has delivered impressive gains thus far in 2025, but what does that say about market risks and the recent strong returns of stocks? Multi-Asset Strategist Nanette Abuhoff Jacobson offers her take on the precious metal and the case for diversification in today’s market.
Constructive, selective, resilient
Amar Reganti, a member of our Insurance team, explains why he believes insurers should remain selectively risk-on while prioritizing high-quality income and preserving flexibility to add risk as valuations improve.
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Questioning US credit quality
Fixed income strategist Amar Reganti examines questions surrounding US creditworthiness.
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Broadening impact through multi-theme fixed income investments
Multi-theme fixed income impact investments can drive sustainable development by aligning with multiple Sustainable Development Goals, ensuring broad-based impact.
Chart in Focus: Is the Fed rate cut positive for risk?
In this edition of Chart in Focus, we examine how the Fed’s long-awaited interest rate cut may influence risk assets.
Chart in Focus: Three reasons to keep the faith in US credit quality
Our fixed income experts highlight the resilience of US institutional credibility.
Japan's reflation story: An overlooked equity opportunity?
Macro Strategist Nick Wylenzek analyzes the structural shifts in Japan's economy and identifies potential equity opportunities.
What’s the Fed got to do with it? The impact of rate cuts on CLO equity
Our CLO experts discuss the implications of Fed rate cuts on CLO equity, emphasizing its potential to maintain income amidst rate sensitivity challenges in other credit assets.
What markets are missing on critical minerals
Geopolitical Strategist Thomas Mucha highlights the importance of critical minerals in US-China relations, details the impact on global markets, and identifies the investment implications.
Commercial real estate debt: Transitional assets deep dive
Our private commercial real estate debt experts explore transitional CRE assets, highlighting their key characteristics, how they differ from other parts of the CRE debt universe, their potential roles in a portfolio, and much more.
Long bonds could become a diversifier once again
Despite a challenging 15 years, long bonds represent a valuation opportunity. Brij Khurana explains why long-term yields may not last, offering asset allocators a reason to rethink the diversification potential of long-maturity bonds.
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Not all AI opportunities are created equal
Global Industry Analyst Michael Masdea explores AI's transformative power and shares a five-step framework to help evaluate potential long-term AI success stories.
Time to diversify your diversifiers with hedge funds?
Christopher Perret highlights potential benefits of adding uncorrelated strategies, such as hedge funds, to portfolios to navigate turbulent markets.
Rapid Fire Questions with Alex Chambers
In this edition of “Rapid Fire Questions,” Director of Alternatives, Hedge Funds, APAC, Alex Chambers answers four key questions on the role and opportunities of hedge funds in today’s market.
Rational exuberance: Will the bulls keep running?
Tariffs, fiscal challenges, geopolitical turmoil — lately, nothing has seemed to get the market down. We consider how long the good times may last in our quarterly look at the equity, bond, and commodities markets.
Finding climate investment opportunities amid shifting US policy
We delve into the evolving landscape for climate investments in the US and explain areas of overlap between government policy, corporate commercial interests, and climate focus.
Chart in focus: Three reasons to revisit emerging markets
Multi-Asset Strategist Nanette Abuhoff-Jacobson illustrates the case for emerging markets in three charts.
Rotations and reallocations: Rethinking equities
Since April's Liberation Day, equity markets have recovered losses and appear to be on an upwards trajectory. But under the surface of the highs, argues Equity Strategist Andrew Heiskell, is a market and an economy looking for direction. Why is the economy so stuck?
Chart in Focus: What do higher long-end yields mean?
Long-end yields have climbed on concerns over structural growth and fiscal expansion. In this edition of Chart in Focus, we explore how shifting yield curves are reshaping opportunities across asset classes.
The long-term rewards of a contrarian approach to European equities
Portfolio Manager Tom Horsey and Investment Director Thomas Kramer explain why viewing European equities through a contrarian lens could help investors to uncover long-term opportunities in a rapidly evolving Europe.
New regime, new reality for investors?
The first half of 2025 has reinforced our view that we are entering a new investing regime. But this isn't a clean break from one regime to another; it's a messy, transitional phase, where some old rules still apply, even as new ones might be emerging. How can investors evolve for a new market environment?
Chart in Focus: Fed rate cuts resume — What’s next for investors?
In this edition of Chart in Focus, we explore the Fed’s return to rate cuts after a strategic pause. We examine how this move, alongside diverging central banks paths, could shape the outlook for risk assets.
Rapid Fire Questions with Tim Manning
In this edition of “Rapid Fire Questions,” equity portfolio manager Tim Manning offers his views on rates, fiscal policy, tariffs, and AI — and shares why he remains constructive on the US equity market.
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Growth vs stability: do infrastructure investors really have to pick a side?
There’s a buzz around infrastructure at the moment. But do listed infrastructure investors really have to invest in cyclical businesses in order to benefit from structural tailwinds? Tom Levering and Joy Perry explore another way.
The Fed architecture under scrutiny: What are the investment implications?
Macro Strategist Juhi Dhawan looks at how changes in the Federal Reserve's personnel and decision making could impact policy, the US dollar, and financial markets.
FOMC: Cushioning the US labor market
Fixed Income Portfolio Manager Jeremy Forster analyzes the Fed's decision to cut interest rates at the September FOMC meeting.
A look under the hood: US consumer holding up amid volatility
Fixed Income Portfolio Manager Kyra Fecteau dissects several key consumer credit trends and explains how they could have an outsized influence on the overall performance of securitized credit markets going forward.
Chart in Focus: Are today’s equity returns too high?
In this edition of Chart in Focus, we examine the strength of markets so far this year, placing it in historical context.
Brave New World: “US vs them” world order emerges
Geopolitical Strategist Thomas Mucha profiles the shifts signaling increased global policy friction and national security related opportunities for investors.
How a changing Europe is reshaping credit markets
Portfolio Managers Derek Hynes and Konstantin Leidman explore how a changing Europe is reshaping the region's credit markets and identify key takeaways for investors.
Chart in Focus: Where are rates headed?
In this edition of Chart in Focus, we take a look at where rates have been headed and potential implications moving forward.
Is it time to prepare for stagflation?
Discover why concerns about stagflation are rising, and how asset allocators may be able to hedge the effects on their portfolio.
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Chart in Focus: Earnings upgrades fueled the recent US equity market rally
Where are earnings heading? In this edition of Chart in Focus, we address the recent uptick in earnings expectations and its potential impact on equity returns.
Collaboration in practice: Late-stage growth
Matt Witheiler, Head of Late-stage Growth, explores the impact of Wellington’s collaborative culture. He highlights the potential benefits of working with his private-market colleagues across sectors and stages as well as leveraging Wellington’s hundreds of public-market experts.
Twilight zone: how to interpret today’s uncertain macro picture
Macro Strategist John Butler and Investment Director Marco Giordano explore how to interpret today’s uncertain macroeconomic picture and its key implications.
Collaboration in practice: Late-stage biotech
Nilesh Kumar, Head of Biotech Private Investing, explores how working with Wellington’s public-market biotech experts helps his team better understand the feasibility of emerging biotech innovations.
Chart in Focus: Are higher valuations justified?
Since Liberation Day, a clearer picture on tariffs has begun to emerge and markets have rallied in response. In this edition of Chart in Focus, we revisit cross-asset valuations and examine if the higher valuations are justified.
Rethinking the Fed’s dual mandate
Is it time for a fresh perspective on the dual mandate? Fixed Income Portfolio Manager Brij Khurana explores the potential benefits of reorienting monetary policy toward maximizing productivity.
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Integrating end-beneficiary insights into impact investing: Microfinance case study
Louisa Boltz and Oyin Oduya join with Pranav Sridhar from 60 Decibels to examine best practices for bringing end-beneficiary insights into impact investing.
Multi-asset credit: Evergreen anchor in an age of volatility and divergence
Investment Director Raina Dunkelberger explores the benefits of a multi-asset credit approach, highlighting diversification and risk-adjusted returns in today's volatile fixed income landscape.
CCC junk bonds appear undervalued and overlooked
Fixed Income Portfolio manager and Credit Analyst Blake Huynh and Investment Director Nick Leichtman highlight CCC bonds' potential amid tight spreads and market dynamics.
(Re)emerging markets: 10 reasons for optimism
Our experts identify 10 reasons why now may be the time for investors to reconsider emerging markets.
Commercial real estate debt market update
Our private credit team discusses the CRE debt market's growth, evolving dynamics, and opportunities for private lenders amid higher rates and reset valuations.
Collaboration in practice: Climate venture capital
Greg Wasserman, Head of Private Climate Investing, highlights the importance of collaborating with Wellington’s later-stage private market investors and public market experts to better understand best practices, valuation, exit opportunities, and more.
Chart in focus: What does a weak US dollar mean for global investors?
In this Chart in Focus, we illustrate how the power of the US dollar in 2025 stacks up against the past fifty-plus years. Learn what we're watching and understand the global investment implications of a weaker USD.
Collaboration in practice: Early-stage venture
Jackson Cummings, head of Wellington Access Ventures, outlines how collaborating with our later-stage private teams, public market industry analysts, and Value Creation Team can benefit his early-stage venture team.
Stagflation watch: Thoughts on tariffs, inflation, and Fed policy
US Macro Strategist Juhi Dhawan considers signs the US economy may be moving toward a toxic mix of slowing growth and rising inflation, creating challenges for the Fed and investors.
China’s changing: Why you should be watching
Macro Strategist Johnny Yu discusses structural shifts in China impacting global investment dynamics. notably diminished importance of the property sector and collapse of imports.
Chart in Focus: Is growth investing still dominating?
Growth isn't global? In this edition of Chart in Focus, we compare the performance of value vs. growth stocks globally, highlighting the contrast by region, and in turn explore the implications for style investing.
Rapid Fire Questions with Philip Brooks (Part 2)
In part 2 of his “Rapid Fire Questions”, equity strategist Philip Brooks shares his views on 3 key questions, focusing on the topic of Quality and investible opportunities today in US and abroad.
Still climbing, just slower
Members of our Insurance team share the key themes behind their cautiously optimistic outlook for the second half of 2025 and the implications for reserve-backing and surplus fixed income, as well as other major asset classes.
Understanding private equity performance
We dive deep on best practices for measuring and benchmarking private equity performance. In addition, we outline the J-curve and the impact of fund lifecycle on returns.
Wellington Venture Summit
The Wellington Venture Summit brings our portfolio companies the breadth of our investment expertise and networks under one roof. Watch highlights from the summit on preparing to go public, fundraising your next round, and much more.
One Big Beautiful Bill: Why it’s “buy now, pay later” for markets
Multi-Asset Strategist Nanette Abuhoff Jacobson weighs the near-term benefits of the recently enacted US tax and spending bill against the longer-term costs, and suggests several investment implications.
Rapid Fire Questions with Philip Brooks (Part 1)
In part 1 of his “Rapid Fire Questions”, equity strategist Philip Brooks shares his views on 3 key questions, focusing on market outlook and risks.
The long and short (term) of markets
Head of Multi-Asset Strategy Adam Berger offers a four-part plan for short-term volatility and looks at the longer-term implications of shifting capital market expectations.
Multi-strategy investing 101
We explore multi-strategy investing, profiling its potential role in growing and protecting wealth amid today’s uncertainty.
IPOs aren’t dead, they’re just napping
Experts from our venture capital and trading teams explore the current IPO landscape. They highlight three challenges and three opportunities for private companies aiming to go public today.
Japan’s banking sector outlook: Alpha up ahead?
Olivia Hurley and Rie Kimoto explore Japan's banking sector, highlighting regional banks' undervaluation and M&A opportunities driven by regulatory changes and demographic shifts.
Severance: The split between the economy and the markets
While markets have bounced back since Liberation Day, policy changes and macro data bear watching. Heading into the second half of 2025, we're focused on relative opportunities across asset classes created by disconnects and divides between markets and economies.
CLOs and the growth of private credit
Alyssa Irving profiles private credit's influence on CLOs, focusing on its ability to refinance lower-quality issuers and the potential benefits for the broadly syndicated market.
Venture capital mid-year outlook: Five key questions
Our venture capital team explores the state of the IPO market, M&A uncertainty, the growth of secondaries, and more.
CLO investing and active ETFs
Alyssa Irving explores the evolving role of active ETFs in the AAA CLO market, highlighting their significant growth, the impact of increased trading activity, and the potential opportunities they create.
The power of positive and pragmatic thinking
While markets have a lot to worry about, from government policy to geopolitics, Global Investment and Multi-Asset Strategist Nanette Abuhoff Jacobson looks at the world from another angle: What could go right? She offers five reasons for positive thinking and considers the investment implications.
FOMC: Patiently waiting to ease
Jeremy Forster discusses the Fed's steady policy rates, inflation forecasts, and potential interest rate cuts amidst economic uncertainties.
Two key questions that bond investors should not ignore
Investment Directors Amar Reganti and Marco Giordano and Portfolio Manager Campe Goodman tackle two key questions that are likely to be top of bond investors’ minds during the second half of 2025.
Chart in Focus: Did you miss out on the market bounce back in April?
Did you miss out on the market bounce back in April? In this edition of Chart in Focus, we look at market turnaround following the Liberation Day correction, highlighting the consequences of not having stayed invested.
Climate venture capital: Innovation versus hype
Greg Wasserman, Head of Private Climate Investing, discusses the balance between innovation and hype in climate venture capital. He explores automation in agriculture and manufacturing as well as the emerging commercial applications of generative AI.
Innovation in late-stage private markets
Matt Witheiler, head of Late-stage Growth, explores innovation and hype in late-stage private markets, discussing AI and defense technology.
Early-stage venture: Innovation versus hype
Wellington Access Ventures' Jackson Cummings discusses promising innovations in edge AI and embedded fintech. In addition, he highlights the potential hype surrounding consumer AI and quantum computing.
Private biotech innovation versus hype
Nilesh Kumar discusses the next generation of biotech disruptors in obesity, autoimmunity, and oncology, focusing on drugs that solve real-world unmet medical needs.
Preparing to go public: Five IPO lessons learned
Our Value Creation Team highlights five IPO preparation lessons learned for private companies aiming for successful public market entry.
Rapid Fire Questions with Campe Goodman
In this edition of “Rapid Fire Questions”, fixed income portfolio manager Campe Goodman shares his views on 4 key questions in this Q&A session.
Why the US dollar’s “crooked smile” could upend asset allocation
Brij Khurana explores the dollar smile theory's impact on asset allocation and foreign investors' strategies amid currency fluctuations.
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The yen smile: New economic era upends traditional safe-haven currency relationships
Portfolio Manager Sam Hogg discusses the US Dollar Smile Theory and the Japanese yen's safe-haven status in the context of global trade and monetary policy changes.
Sizing private-market allocations
Our multi-asset experts explore three key components of sizing private market allocations, offering a framework to evaluate the capacity to take on illiquidity, the need for excess return, and the ability to consistently source 'good' investments.
Europe: a good hunting ground for high yield?
With attractive yields and a low duration profile, high yield can present potentially compelling opportunities for investors, despite the continued volatility.
Tariff wars: The yield awakens
Members of our Insurance team discuss the turbulent economic and market environment and the implications for reserve-backing and surplus fixed income, as well as other major asset classes.
Making the most of the new economic era’s bright spots
Despite uncertainty, there are important factors supporting a more optimistic approach. By focusing on structural trends and considering a wide range of views, investors can position portfolios for positive long-term returns.
SeatGeek deal overview
Head of Late-stage Growth Matt Witheiler and Equity Research Analyst Peter Blain highlight their insights on Wellington’s investment in SeatGeek, discussing the company's potential in primary and secondary ticketing in the growing ticketing landscape.
Chart in Focus: Patience is power — stay invested through volatility
What does a higher VIX mean? In this edition of Chart in Focus, we explore the historic performance of the global equity market after large bouts of volatility, and the investment implications for equity and fixed income investors amid the US tariff turmoil.
Four investment perspectives on Trump’s first 100 days
Four of our experts across fixed income and equity share their asset-class level insights on the first 100 days of the current Trump administration and analyze the implications for investors.
Databricks deal overview
Head of Late-stage Growth Matt Witheiler and Global Industry Analyst James McNay discuss their work together on Wellington’s investment in Databricks, highlighting the company’s innovation in AI and data analytics amid the evolving tech landscape.
Flexibility with focus: how to position fixed income for volatility
Portfolio Manager Martin Harvey and Investment Director Marco Giordano explore how a focused use of flexibility can help position fixed income portfolios for volatility.
How China can offset the tariff shock
Macro Strategist Johnny Yu details the approaches Beijing could take to offset the tariff shock, from fiscal strategies to potential retaliatory measures to concessions that Washington may welcome.
A decade of impact: Verifying our impact investing funds
Our impact investing strategies have been verified by BlueMark, the leading provider of independent impact verification and intelligence for the sustainable and impact investing market.
There is more than one way to approach growth equities
Portfolio Managers Steven Angeli and Joe Chung, and Investment Specialist Casey Vale discuss how looking at growth equities in a different way may help uncover opportunities amid heightened uncertainty and volatility.
Private biotech market update: IPOs, M&A, and innovation
Our biotech venture capital experts explore the state of the private biotech market, highlighting the potential IPO-market rebound, surge in private M&A, and the focus on clinical-stage opportunities.
Sacrificing stocks on the altar of trade
Brij Khurana discusses the Trump administration's new stance on trade and its impact on the US economy, global markets and asset prices.
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Lessons learned from a top-heavy equity market
Can the Magnificent Seven stocks continue to dominate the equity market? And what can asset owners do when markets are narrow? Head of Multi-Asset Strategy Adam Berger and Global Equity Strategist Andy Heiskell discuss the challenges and opportunities.
Early thoughts on historic hike in US tariffs
Macro Strategist Michael Medeiros explores the significant economic and market implications of the latest US tariffs, highlighting potential recession and inflation spikes, and the impact on global trade relations.
What do tariffs mean for portfolios?
Tariffs exceeded market expectations. Now what? Expect short-term volatility, identify concentrations and consider using sell-offs as an entry point to diversify across regions and styles, says Nanette Abuhoff Jacobson, Global Investment and Multi-Asset Strategist.
Could “Liberation Day” trigger a shift in capital flows?
John Butler discusses groundbreaking US tariffs, their impact on capital flows, and the changing investor perception of the US and Europe.
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When will capital come back to private equity?
Head of Multi-Asset Strategy Adam Berger and Head of Late-Stage Growth Matt Witheiler consider the state of the private equity market, including liquidity challenges, the effects of higher interest rates, late-stage opportunities, and the impact of AI.
Oh baby, baby, it’s a wild world
Just one quarter into the year, many policy and economic assumptions have been turned on their head. What does it all mean for equity, bond, and commodity markets around the world? Members of our Investment Strategy & Solutions Group offer their outlook.
How stewardship can bring perspective amid uncertainty
Portfolio Managers Yolanda Courtines, Sam Cox, Investment Director Alex Davis and Investment Specialist Fred Owens-Powell examine how a stewardship perspective can help equity investors uncover opportunity amid uncertainty.
Finding fixed income opportunity in unprecedented times
Brian Garvey and Brij Khurana highlight the importance of diversified fixed income portfolios in managing volatility and seizing opportunities amid economic uncertainty.
Climate venture capital: Deployment, valuations, exits
Greg Wasserman, head of private climate investing, explores today’s normalizing valuations, encouraging IPO and M&A trends, and potentially actionable opportunities in climate venture capital.
Early-stage venture: Deployment, valuations, exits
Head of Wellington Access Ventures Jackson Cummings discusses his latest views on early-stage venture capital and why he’s “cautiously optimistic” on deployments, valuations, and exits.
Late-stage growth investing: Deployment, valuations, and exits
Matt Witheiler, head of late-stage growth, outlines the state of the late-stage private market, discussing deployments, valuations, and exits.
Allocating to fixed income in an age of austerity
Amar Reganti and Adam Norman explore how flexible fixed income strategies may offer stability and yield in a volatile market environment.
The impact of LMEs on high-yield, leveraged-loan, and CLO markets
Emily Shanks, Jeff Heuer, and Alyssa Irving explore the impact of liability management exercises on high-yield, leveraged-loan, and CLO markets.
Shrinking the government footprint: Medicaid cuts and America’s economic health
Macro Strategist Juhi Dhawan looks at what changes to the mammoth US Medicaid program could mean for economic growth, employment, inflation, and financial markets.
The power of local perspective: the rewards of a contrarian approach to European equities
Portfolio Manager Tom Horsey and Investment Director Thomas Kramer explain why they see compelling opportunities in today's European equity market for contrarian, bottom-up investors.
Bitcoin on the brink: What investors need to know
As bitcoin appears to be entering a new phase of acceptance, we offer a brief asset owner's guide to the cryptocurrency's role, the evolving regulatory environment, potential investment benefits and risks, and portfolio implementation.
Private investments: How much should I own?
Our experts discuss the key steps to determine the size of private-market allocations, focusing on illiquidity tolerance, excess return needs, and manager selection.
The yield buyer
Our fixed income experts examine the impact of tight credit spreads and elevated yields on today’s credit markets and explore the value of active management.
FOMC meeting: Misery loves company
Fixed Income Portfolio Manager Jeremy Forster explores the Fed's decision to hold rates, downgraded economic forecasts, and the implications of balance-sheet policy changes on inflation and market conditions.
High hopes and low credit spreads
Connor Fitzgerald highlights the implications of tight credit spreads and the importance of flexibility for fixed income managers navigating today's market.
Chart in Focus: how sustainable is Europe’s rally?
Is the recent rally in European equities sustainable? In this edition of our Chart in Focus series, we explore the potential path ahead.
Shrinking the government footprint: Deregulation and the US economy
Macro Strategist Juhi Dhawan shares her view on the economic effects of the Trump administration’s efforts to slash red tape, including the impact on growth and inflation, as well as some of the potential drawbacks of this approach.
CLO equity returns in a tight spread environment
Our CLO experts discuss CLO equity investing in today's tight spread environment, focusing on arbitrage, optionality, and income potential.
The US equity rotation: Where have all the good vibes gone?
After riding into 2025 on a wave of post-election euphoria, the US stock market has struggled to find its footing so far this year. Global Investment and Multi-Asset Strategist Nanette Abuhoff Jacobson looks at what’s changed in the markets and what it might mean for investors.
Early-stage venture in 2025
Jackson Cummings, head of Wellington Access Ventures, explores the potential impacts of Trump 2.0 on early-stage venture, highlighting deregulation, fintech opportunities, AI-driven manufacturing innovations, and more.
Late-stage growth investing in 2025
How could Trump 2.0 impact late-stage private companies? Matt Witheiler, head of late-stage growth, explores the potential impact of inflation and tariffs on the late-stage market in 2025.
Private biotech investing in 2025
Nilesh Kumar, head of biotech private investing, shares his outlook for 2025, weighing headline risk against biotech venture capital's potential tailwinds.
Private climate investing in 2025
Greg Wasserman, head of private climate investing, explores the nuanced impact of the Trump administration on climate venture capital, discussing the Inflation Reduction Act, automation, and climate adaptation opportunities.
Venture capital in 2025: Deployment and valuations
How are valuation and deployment trends shaping today’s opportunities in venture capital? Our VC experts explore the current state of the market and their expectations for 2025.
Power play: Building the case for infrastructure in 2025
The long-term case for listed infrastructure remains compelling. But could near-term catalysts, such as nuclear and natural gas, also drive performance in the short term?
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No more free lunch: Impact of higher interest rates on private equity
We explain what the direct and indirect rate exposure of buyouts, venture capital, growth equity, secondaries, and fund-of-funds mean for investors.
A pivotal election result for Germany and Europe
Macro Strategists Eoin O’Callaghan and Nicolas Wylenzek share their initial observations on what the pivotal Federal election results in Germany could mean for investors.
Monthly Market Review — January 2025
A monthly update on equity, fixed income, currency, and commodity markets.
Chart in Focus: Can quality hedge against inflation?
Can Quality hedge against inflation？ In this latest edition of Chart in Focus, we explore the historic outperformance of high-quality stocks and bonds during periods of high inflation, perhaps offering lessons should inflation surprise to the upside in 2025.
US debt dynamics: Is there a path to sustainability?
How worried should investors be about US debt sustainability? Macro Strategist Michael Medeiros discusses the implications of soaring US federal budget deficits and the likely bond market response.
Time for credit selection to shine
Fixed income investors continue to seek answers to an era of volatile rates. Large, static exposures to credit markets no longer cut it. Instead, a nimble and dynamic approach is more likely to create resilient and consistent total return outcomes.
Convertible bonds: Attractive total return potential in a compressed fixed income landscape
Fixed Income Portfolio Manager Michael Barry details his optimism for convertible bonds in 2025, focusing on their attractive yields, equity upside potential, and exposure to growth-oriented sectors like technology and healthcare.
Setting the stage for small caps in 2025
Our small-cap equity experts discuss valuation, market cycles, economic conditions, and sector diversification, profiling the potential of small-cap equities in 2025.
WellSaid: Partnering with climate founders
Wellington head of private climate Greg Wasserman discusses his team's approach to helping private companies progress along their growth journey
Deeply seeking the impact of AI spending on bond yields
Brij Khurana explores the surprising way in which AI spending may impact Treasury yields and complicate the Fed's rate-policy decisions.
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The role of public/private collaboration
Josh Sommerfeld, health care sector lead for late-stage private investments, highlights why he believes working with public-market colleagues like Dave Khtikian helps him be better at the four key parts of his job: sourcing, diligence, pricing, and exiting.
Geopolitics in 2025: Risks, opportunities, and deepening uncertainties
Geopolitical Strategist Thomas Mucha outlines his structural, policy, and geopolitical outlook for the year.
Fed in holding pattern
Fixed Income Portfolio Manager Jeremy Forster unpacks the US Federal Reserve's decision to pause its interest-rate-cutting cycle.
Venture capital roundtable: 2025 outlook
In this roundtable, we explore the short- and longer-term implications of Trump 2.0, share our views on the IPO and M&A environments, and dive into the potential impact of tariffs, labor scarcity, and a higher-for-longer interest-rate environment.
Private market perspectives
Hear from private market experts across our early-stage venture, climate growth, late-stage biomedical, late-stage growth, private credit, and ESG teams.
Charts in Focus: Growth of capital securities markets
Fixed Income Portfolio Manager Noah Atlas makes the case for capital securities and details the advantages they could potentially provide for investors.
Europe amid regime change: where next for European equities?
Is pessimism on Europe overdone? Macro Strategist Nicolas Wylenzek discusses why he believes Europe is in the middle of a regime change with significant opportunities for active equity investors.
What an “America first” foreign policy may mean for markets
Fixed Income Portfolio Manager Brij Khurana explores the potential market impacts of President Trump's "America first" foreign policy. From regional hegemony to global economic dominance to tariffs applied for strategic geopolitical gain, discover how these shifts could affect investors.
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Quarterly Market Review
A quarterly update on equity, fixed income, currency, and commodity markets.
Monthly Market Review — December 2024
A monthly update on equity, fixed income, currency, and commodity markets.
Monthly Market Review — November 2024
A monthly update on equity, fixed income, currency, and commodity markets.
Four achievable New Year’s resolutions for investors
Are New Year’s Resolutions for investors purely aspirational or a helpful tool? Investment Strategy Analyst Alex King believes the latter and proposes four achievable resolutions.
Balancing bumps in the road and big-picture thinking in 2025
How can investors position portfolios for bumps in the road without losing sight of longer-term opportunities?
Top 5 fixed income ideas for 2025
Fixed Income Strategist Amar Reganti and Investment Communications Manager Adam Norman outline which five areas of fixed income may be best positioned in 2025.
Climate adaptation may cost trillions. Is your portfolio ready?
With climate adaptation and resilience spending projected to exceed mitigation spending sixfold by 2050, we believe investors should consider allocations to adaptation-aligned opportunities.
The allocator’s checklist for 2025 and beyond
Head of Multi-Asset Strategy Adam Berger offers near- and longer-term ideas for allocators, including thoughts on alternatives, potential market surprises, and risk management.
Executive Summary 2025: Finding opportunity amid uncertainty
In this article, we summarize some of the key findings from our 2025 outlooks, from divergence-driven opportunities to the impacts of AI and beyond.
Three performance drivers could help hedge funds rev up returns
Alex King and Adam Berger, members of our Investment Strategy & Solutions Group, explain why we're at a turning point for economic and market conditions that could benefit hedge funds and make them a potentially valuable addition to a multi-asset portfolio.
Alternative Investment Outlook
This collection provides timely ideas across the spectrum of alternative investments -- including hedge funds, private equity, and private credit.
Fed delivers rate cut, but hawkish 2025 guidance sends yields up
Fixed Income Analyst Caroline Casavant examines the outcome of the December 18 Federal Open Market Committee meeting and the implications for rates, inflation, and real growth.
Accelerating the future of active management
CEO Jean Hynes explains how Wellington is building for the future of active management by investing in our capabilities and aligning our organization and talent with clients’ shifting needs.
Private biotech: Immunology and inflammation’s third wave
Our experts discuss how I&I is building on industry progress to offer new treatment solutions and interesting opportunities for private biotech investors.
Time to get active? 5 equity investment ideas for 2025
As we head into 2025, growth seems poised to accelerate, especially in the US. Equity Strategist Andrew Heiskell and Macro Strategist Nicolas Wylenzek see five themes that may create opportunity across global equity markets.
Going their separate ways: Capitalizing on bond divergence
Our fixed income experts discuss how to position portfolios for a world of uncertainty and divergence, exploring key themes and evolving bond opportunities for 2025.
Multi-Asset Investment Outlook
To help think through the asset allocation outlook and implications for this year, we offer views from iStrat, our investment strategy and solutions group.
Securitized credit: Opportunity amid tight corporate spreads?
Portfolio Managers Rob Burn and Cory Perry discuss why they believe securitized credit has an attractive role to play in today’s tight-spread environment and highlight potential areas of opportunity in 2025.
A guide to investing in the age of anxiety
There's a long list of issues worrying asset owners, from geopolitical risk to high valuations. To help, Head of Multi-Asset Strategy Adam Berger offers coping tips for an uncomfortable investment backdrop and a world where investing rules of thumb may be broken.
Trump 2.0: Time to curb your enthusiasm?
How does an allocator navigate markets when so much about the policy landscape is unknown? Our Investment Strategy & Solutions Group offers their views on the new political realities in the US and their global implications, including for equities, bonds, and commodities.
Private credit outlook for 2025: 5 key trends
Our private credit experts, Emily Bannister and Sonali Wilson, highlight five critical trends for 2025: the convergence of public and private markets, AI's impact on private credit, the evolving role of banks in lending markets, the impact of higher interest rates, and the importance of financial covenants.
Venture capital outlook for 2025: 5 key trends
Our venture capital experts are encouraged by the healthier environment for venture capital in 2025. In this year's outlook, they explore key themes for the year ahead, including: higher deployment, AI, rebounding IPOs, and impacts of the 2024 election.
Private Investment Outlook
In our private market outlook collection, we explore the themes driving the rapid evolution of private credit and private equity markets.
High-yield credit investing: it’s a marathon, not a sprint
Fixed Income Portfolio Manager Konstantin Leidman explains his focus on the high-quality companies likely to outperform over the long term and why he is wary of the hype surrounding potentially bubble-inducing developments like generative AI.
Is your portfolio keeping pace with the changed outlook?
It's been an uncertain few years for investors, but looking ahead, we believe investors can expect a resilient economy, a solid outlook for growth and a positive environment for risk assets. What does a changed outlook mean for investors?
The year of uncertainty: 5 macro themes to watch in 2025
Macro Strategists John Butler and Eoin O’Callaghan outline five macro themes for investors to watch in 2025 in a year they see defined by exceptional uncertainty and an extraordinary macroeconomic backdrop.
Monthly Market Review — October 2024
A monthly update on equity, fixed income, currency, and commodity markets.
Listening to voters’ economic concerns should mean less fiscal spending
Fixed Income Portfolio Manager Brij Khurana explains the likely economic and market impacts of Trump administration policies, including potential winners and losers from drastic fiscal spending cuts.
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Chart in Focus: Is the “Trump trade” real?
Is this "Trump trade" real？In this latest edition of Chart in Focus, we compare market's reactions to Trump's re-election and his 2016 election, and share our observations.
Navigating uncertain policy shifts
Macro Strategist Juhi Dhawan explains why investors should prepare for heightened volatility in 2025, due to significant policy changes under President-elect Trump that will impact inflation, trade, and economic growth.
Markets in 2025: asleep at the wheel or in the driving seat?
Watch the conversation with Head of Macro Strategy John Butler as he discusses recent macro events and potential 2025 market outcomes for investors.
Time for bond investors to take the wheel?
Volatility makes bond investing less straightforward, but it can also create opportunities, provided investors are in a position to "take the wheel" in order to capitalise on them.
Fed stays its course while acknowledging brewing winds of change
Our expert examines the underlying data which drove the Fed to stay its rate-cutting course.
Chart in Focus: Can this equity bull market last?
Can this current equity bull market last? In this latest edition of Chart in Focus, we focus on the indicators of whether it may come to an end or keep running.
What do declining European earnings mean for ECB policy?
European companies have been unexpectedly resilient over the last couple of years. However, the outlook for European earnings could be more challenging than headline numbers suggest. What could this mean for investors?
Trump 2.0: US election market impacts
In the wake of the US election, macro strategists Juhi Dhawan and Michael Medeiros join host Thomas Mucha to discuss the market, policy, and geopolitical implications of Trump 2.0.
It’s different this time: Trump faces challenging geopolitical dynamics
Our expert explores how Trump may approach the heightened geopolitical challenges his second administration faces.
What do the US election results mean for investors?
The US election results could have significant implications for the global economy and capital markets. Our panel of experts provides a thorough analysis of what happened and explores potential market impacts.
Trump win likely to accelerate macro trends already in motion
The US election results could have significant implications for the global economy and markets. To help you understand these changes, US Macro Strategist Mike Medeiros provides a thorough analysis and discusses the potential market impacts.
AI is hungry: What’s on the menu?
Our technology venture capital experts explore AI’s potential for disruption, highlight potential winners and losers, and dive deep into the innovation’s impact on the software industry.
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Measuring impact in venture capital
We highlight why venture capital matters to impact investors and how to authentically measure and manage impact in this asset class.
Pre-election ideas for investors: Lean into what you know (not what you don’t)
Our expert offers investable ideas based on known macro and market conditions, rather than speculation.
The power of local perspective: the long and short of European equity investing
Dirk Enderlein and Boris Kergall explain why, in their view, the structural changes impacting European equity markets offer active long/short investors a rich source of potential return and diversification.
Impact measurement and management: addressing key challenges
Our IMM practice leader describes common impact investing challenges and suggests ways to overcome them.
Are bond investors ready for a US industrial revolution?
Portfolio Manager Connor Fitzgerald discusses why bond investors should ready themselves for a potential US industrial revolution and shares his perspective on how to reposition portfolios for such a scenario.
Quality growth — a less volatile sweet spot?
Growth stocks can be volatile, especially when companies fail to meet expectations. However, high-quality growth companies can help mitigate downside risk while still offering potential for long-term outperformance. How can investors find the sweet spot?
Unlocking the full value potential of stewardship
Yolanda Courtines and Alex Davis examine how corporate stewardship can be a source of value and delve into what investors can do practically to maximise its full potential.
Decoding impact expectations: best practices for impact investors and companies
We share three recommendations each for impact investors and companies to help them better understand and manage each other's expectations.
Quarterly Market Review
A quarterly update on equity, fixed income, currency, and commodity markets.
Monthly Market Review — September 2024
A monthly update on equity, fixed income, currency, and commodity markets.
Navigating AI resource demands: Strategies for sustainable data center operations
AI's growing computational demands are raising critical questions about energy efficiency and water-resource management. We delve into strategies for enhancing sustainable data center operations, highlighting the importance of proactive resource stewardship.
Strong fundamentals, attractive valuations: Why the time may be right for active biotech investing
From solid fundamentals to supportive macro conditions, learn why our biotech experts believe the industry may be ready to run.
What is “the economic cycle,” anyway?
See why the relationship between asset prices and the economic cycle is more complex than you might think, why a US recession is unlikely, and what a more dovish Fed could mean for the US and global markets.
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Japan’s factory automation sector: Poised for a significant upturn?
Global Industry Analyst Takuma Kamimura explains why he believes we’re on the verge of a multiyear cyclical upturn in the factory automation sector and why he sees a compelling outlook for select Japanese companies in particular.
US election special: which investment themes win at the polls?
The upcoming US election could be one of the most momentous in recent history. How could the result affect different investment themes? Our thematic team investigate the potential implications for investors.
Securitized credit: Normalizing, decelerating, or falling off a cliff?
Our experts offer their views on the current conditions and outlook for the securitized credit market.
Sahm rules are meant to be broken
Fed easing is finally here and fundamentals remain favorable. But what about that election? Members of our Investment Strategy & Solutions Group offer their outlook, including their latest views on equities, bonds, and commodities.
Milken Institute: Asia Summit 2024
In this event replay from the 2024 Milken Institute Asia Summit, Wellington President and Managing Partner Steve Klar joins industry leaders to explore the diverse opportunities ahead for enhancing portfolio performance.
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The investment implications of Europe’s ageing workforce
What are the investment implications of Europe’s ageing workforce? Macro Strategist Nicolas Wylenzek explores the drivers of this accelerating demographic shift, Europe’s likely response and the opportunities it creates for investors.
Global macro strategies: Multi-dimensional tools for an era of economic change
With the global economic environment creating potential opportunities for macro investors, we consider the heterogeneity of the global macro strategy universe, the case for combining different styles, and the choice between a single- and a multi-portfolio manager approach.
Financial Market Review
A quarterly update on equity, fixed income, currency, and commodity markets.
Beyond US large cap: Where now for equity investors?
How should investors navigate a narrow market? Looking ahead to the rest of the year, Macro Strategist Nicolas Wylenzek examines the structural backdrop and Equity Strategist Andrew Heiskell shares his view on equity opportunities to watch.
When the Fed sneezes, the ECB… cuts rates regardless?
Since the late 1990s, when the US cycle turned, the rest of the world generally followed, with a lag. However, the new economic era is likely to result in greater cyclical divergence between countries and the need for different central bank responses. How should investors think about the age of economic divergence?
Factors to consider when allocating to US small-cap stocks
From avoiding "junk" to holding on to "graduates," members of our Fundamental Factor Team share their research insights on the pursuit of alpha in the small-cap space.
Small-cap stocks: Watching for mean reversion, technology diffusion, and the next inflection point
Our experts discuss factors that could help small-cap stocks rebound and the search for winners in this inefficient segment of the market.
Can hedge funds play the role?
How should investors select the most suitable types of hedge funds for specific roles? Members of our Investment Strategy & Solutions Group offer a simple and intuitive framework that can help.
A blueprint for building climate-aware multi-asset portfolios
Members of our Investment Strategy & Solutions Group take a deep dive on the issues asset owners should consider when choosing climate-aware portfolio building blocks, from the evolving opportunity set to the active/passive decision.
Fork in the road: Slowdown or reacceleration ahead?
Markets seem to expect a much smoother ride in 2024, but are they too optimistic? Members of our Investment Strategy & Solutions Group offer their macro and market outlook, including their latest views on equities, bonds, and commodities.
Growth efficiency: The new venture capital regime
Frederik Groce, Deal Lead for Wellington Access Ventures, explores how the 'growth-at-any-cost' venture capital regime has shifted to a focus on growth efficiency, highlighting two key metrics for companies to keep top of mind.
Private investing portfolio company interview with AMP Robotics CEO
Dr. Matanya Horowitz, CEO of AMP Robotics, highlights how the company integrates AI and robotics into the recycling industry and explores the “actionable guidance” Wellington provides on ESG and other strategic issues.
Shareholder activism in Japan: Integrating ESG within the investment process
In the final article within our series on shareholder activism in Japan, ESG Analyst Soo Ho Jung shares how the Japan equity team integrates ESG to help realize value for investors.
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Shareholder activism in Japan: How our engagement approach drives value
Equity Portfolio Manager Katsuhiro Iwai introduces the Japan equity investment team's approach to engagement, sharing a number of successful recent case studies.
Activism – History and evolution in Japan
Investment Specialist Toshiki Izumi examines the history of shareholder activism in Japan, with particular emphasis on the differences between current and historical attitudes toward activism.
Designing a climate-aware strategic asset allocation
Members of our Investment Strategy Team explain how they incorporate climate metrics into their asset allocation optimization process. They also discuss implementation — the choice of specific climate-aware building blocks and strategies to express the desired asset allocation.
Impact measurement and management practices
What constitutes an impact investment? How is impact measured? And, what are the benefits of impact investing? Our Impact Management and Measurement Practice Leader Oyin Oduya discusses our approach.
Toward carbon neutrality: Our approach to carbon offsets
Wellington has committed to be carbon neutral in our operations by the end of 2022. Members of our Sustainable Investing and Corporate Sustainability Teams describe our multifaceted approach to achieving that goal.
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