Investment Strategy

From timely tactical ideas to in-depth structural insights, our iStrat Group offers their latest thinking on market opportunities, strategic asset allocation, and thematic and factor-based investing.

feature-fund-card-thematic-perspectives-475151305
Thematic perspectives

Structural themes leading to sustainable economic development and investment opportunities.

feature-fund-card-strategic-asset-allocation-130406189
Strategic asset allocation

Long-term views and research on the construction, management, and governance of multi-asset portfolios.

experts

latest insights

Showing of Insights Posts
487586301
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Concentrated markets: Implications for active management, manager research, and multi-manager capital allocation

Members of our Fundamental Factor Team share research insights on the portfolio impact of benchmark concentration and highlight tools that may help, including extension strategies, passive-share analysis, and index-completion approaches.

Continue reading
event
18 min
Article
2025-12-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
topofmind-hero-banner
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

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.

Continue reading
event
15 min
Article
2025-12-01
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Categories final
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

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.

Continue reading
event
Article
2025-12-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Categories final
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

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.

Continue reading
event
12 min
Article
2025-12-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Categories final
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

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?

Continue reading
event
8 min
Article
2025-12-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
10163275
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Don’t let recency bias get in the way of good investment ideas

Tim Antonelli, Head of Multi-Asset Strategy – Insurance, offers ideas to help insurers avoid being anchored to recent events and build portfolio resilience, from locking in higher yields to taking a more dynamic approach with surplus assets.

Continue reading
event
14 min
Article
2025-11-30
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Nature background of dreamy, fairy tale and beautiful jungle forest pedestrian footpath alley way place for walking in tunnel of old oak green trees light up with sun rays trough grass at sunset on spring day
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

“Goldilocks” and the three drivers of hedge fund outperformance

Members of our Investment Strategy & Solutions Group explain why shifting economic conditions may bode well for hedge funds broadly but also see reasons that manager selection may be more important than ever.

Continue reading
event
15 min
Whitepaper
2026-11-30
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
1132714724
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

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.

Continue reading
event
3 min
Article
2025-11-30
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
478598956
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

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.

Continue reading
event
Video
2025-11-30
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
multi asset outlook
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Take it “ease”-y

Tim Antonelli, Head of Multi-Asset Strategy – Insurance and Portfolio Manager, explains why he thinks insurers should consider locking in current yields and sticking with global equity exposure.

Continue reading
event
18 min
Article
2025-10-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
1791713023
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

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.

Continue reading
event
7 min
Article
2025-10-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
155152960
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Chart in Focus: What does the rate cut mean for equities and bonds?

Are rate cuts positive? On the heels of the much-anticipated initial Fed cut, in this article we look to historic precedent for where the markets could go in the coming months.

Continue reading
event
3 min
Article
2025-09-30
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
173899201
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Four investment perspectives amid a pivotal US election

How can investors reposition portfolios for a pivotal but highly unpredictable US elections? Nick Samouilhan explores potential avenues in conversation with three leading portfolio managers.

Continue reading
event
6 min
Article
2025-09-30
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
474157734
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Massive market sell-off: Justified or an overreaction?

What's behind the global market meltdown, and what should investors consider doing?  Global Investment and Multi-Asset Strategist Nanette Abuhoff Jacobson shares her views.

Continue reading
event
3 min
Article
2025-08-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
topofmind-hero-banner
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Does the US election even matter? Thoughts on politics, Fed policy, and portfolios

What's next for interest rates and what impact will the US election have? Head of Multi-Asset Strategy Adam Berger and Macro Strategist Mike Medeiros share their outlook and discuss the asset allocation implications.

Continue reading
event
9 min
Article
2025-06-30
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
topofmind-hero-banner
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

The AI effect: Time to rethink your technology exposure?

Will AI fulfill the market's high expectations? Will it continue to drive market concentration? Head of Multi-Asset Strategy Adam Berger and Global Industry Analyst Brian Barbetta, co-head of our Technology team, discuss the outlook and the asset allocation implications.

Continue reading
event
7 min
Article
2025-07-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
~ai-af87e958-9233-484f-b085-efa6df8e2c58_
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Come on in, the water’s fine! Ready for a surplus summer

Tim Antonelli, Head of Multi-Asset Strategy – Insurance and Portfolio Manager, explains why he continues to see reserve fixed income as the sweet spot for insurers and why there may be upside for equities.

Continue reading
event
17 min
Article
2025-07-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
1074456994
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Thematic investing focus: how exactly will AI transform the world?

We are on the brink of a technological revolution that has major implications for all sectors, companies, labour, and regulators. How can a thematic lens help investors separate hype from reality?

Continue reading
event
8 min
Article
2025-06-30
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
1166504383
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Divergence isn’t just about central bank policy

Divergence has implications for investors —and central bank divergence is only one of five ways to think about it.

Continue reading
event
8 min
Article
2025-06-30
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
157561697
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

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?

Continue reading
event
7 min
Article
2025-03-21
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
topofmind-hero-banner
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

What could change the trajectory of value stocks?

Head of Multi-Asset Strategy Adam Berger and Equity Portfolio Manager Nataliya Kofman discuss “resilient” value stocks, disruptive themes, and attractive sector- and country-level opportunities.

Continue reading
event
7 min
Article
2025-05-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
topofmind-hero-banner
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

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.

Continue reading
event
8 min
Article
2024-12-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
1384219104
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Exploring active opportunities amid continued regime change

Head of Multi-Asset Strategy, APAC, Nick Samouilhan outlines why today's environment of dispersion, divergence and disruption offers potentially compelling opportunities for active investors.

Continue reading
event
2 min
Video
2025-04-30
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
1384219104
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Exploring active opportunities: Q2 2024

Head of Multi-Asset Strategy, APAC, Nick Samouilhan outlines why today's environment of dispersion, divergence and disruption offers potentially compelling opportunities for active investors.

Continue reading
event
2 min
Video
2025-04-30
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
981716-001
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

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.

Continue reading
event
11 min
Article
2025-03-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
200512222-001
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Three ways social considerations can enhance portfolios

Four leading Wellington equity and fixed income experts explore three ways social considerations can enhance portfolios.

Continue reading
event
5 min
Article
2025-04-30
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
92250847
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Picking the right building blocks for a climate-aware portfolio

For asset owners integrating climate change into their multi-asset portfolios, members of our Investment Strategy & Solutions Group offer five important insights.

Continue reading
event
3 min
Article
2025-04-30
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
1482801648
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Thematic investing focus: advancing the next generation of energy

The decarbonisation process represents the biggest capital cycle in our lifetime. As we develop the next generation of energy, Keith White, Daouii Abouchere and Megan Galligan examine how thematic investors can make the most of this structural opportunity. 

Continue reading
event
11 min
Article
2025-04-30
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
1202319290
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Thematic investing focus: evolving the current generation of energy

The energy transition is taking place amid a greater focus on energy security and affordability. What could this mean for the role of traditional energy companies, ask Keith White Daouii Abouchere and Megan Galligan. 

Continue reading
event
11 min
Article
2025-04-30
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
~ai-af87e958-9233-484f-b085-efa6df8e2c58_
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Risky business: Is now the time for surplus action?

Tim Antonelli, Head of Multi-Asset Strategy – Insurance and Portfolio Manager, considers insurers' renewed interest in risk assets and offers his views on areas that may be worth a closer look.

Continue reading
event
17 min
Article
2025-04-30
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
636982900
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Income: the hard worker in your portfolio deserves more credit

Income from cash is good but income from bonds is better. In a less certain macro environment, Nick Samouilhan thinks the case for income only gets stronger. How can investors make the most of the opportunities?

Continue reading
event
5 min
Article
2025-04-30
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
95145-maoartwork-final2
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Do fundamentals support a risk-on tilt?

Surprisingly strong economic growth, declining inflation, easy financial conditions — can it get any better for markets? Members of our Investment Strategy & Solutions Group offer their outlook, including their latest views on equities, bonds, and commodities. 

Continue reading
event
Article
2025-03-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
1598668893
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

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.

Continue reading
event
Whitepaper
2026-03-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
477749918
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

No bulls in the China shop?

John Mullins, Irmak Surenkok and Steven Ye assess the investment debate surrounding China's prolonged underperformance and outline three investment ideas for active investors to consider.

Continue reading
event
Article
2025-03-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
1201265089
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Facing the inflation dilemma head on

Inflation has already fallen much quicker than most expected. However, there are convincing reasons why inflation might be higher and more volatile going forward. What are the implications for asset allocation?

Continue reading
event
Article
2025-02-23
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
1404349453
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Thematic investing focus: security in a world of great-power competition

In an environment of accelerating great-power competition and geopolitical instability, policymakers may place a higher emphasis on security – even at the expense of economic efficiency. What could this mean for thematic investors?

Continue reading
event
Article
2025-02-28
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
topofmind-hero-banner
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Top of Mind: The allocator’s checklist for 2024 and beyond

Head of Multi-Asset Strategy Adam Berger offers near- and longer-term ideas for allocators, including thoughts on areas where capital is scarce, alternatives may be attractive, and risks may bear watching.

Continue reading
event
Article
2025-01-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
chapter-iStrat-multi-asset-768x450
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Multi-Asset Market Outlook

To help think through the asset allocation outlook and implications for 2023, we offer views from iStrat, our investment strategy and solutions group

Continue reading
event
Article
2024-12-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
multi-asset_768x450
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Navigating a volatile reality: three ideas for 2024 and beyond

2023 saw investors grapple with a new, more volatile reality. How should portfolios be positioned for opportunities and challenges in 2024? 

Continue reading
event
Article
2025-01-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Mid Year Outlook Designs
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

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. 

Continue reading
event
Article
2026-01-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
591212037
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Why income-seeking investors need to look across asset classes

Income plays an even more crucial role in portfolios than many of us realise, contributing a significant portion of returns for multi-asset portfolios. But with cash rates at around 5%, the world of income has changed. This should prompt investors to take a fresh look across asset classes to see where opportunities lie. 

Continue reading
event
Article
2024-12-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
171553558
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

What route is right in emerging markets investing?

How can investors find the most compelling opportunities within emerging market equities? Simon Henry and Dáire Dunne explain why they think targeting the economic development opportunity may provide a roadmap for success. 

Continue reading
event
Article
2024-12-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
95454-topofmind-artworkfinal2
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Learning to love (or live with) a late-cycle environment

Are we actually in a late-cycle environment and, if so, how should allocators respond? Head of Multi-Asset Strategy Adam Berger offers guidance, including on portfolio positioning, big cycle bets, and security selection.

Continue reading
event
Article
2024-12-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
636900125
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Rebalancing a multi-asset portfolio: A guide to the choices and trade-offs

Many investors wrestle with portfolio rebalancing decisions, particularly in volatile environments. In this paper, members of our Investment Strategy Team argue for a well-structured rebalancing policy and share research on different approaches and common implementation considerations.

Continue reading
event
Whitepaper
2025-12-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
956835436
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

2024 Insurance Outlook: Position portfolios for the unexpected

Tim Antonelli offers two critical ideas for insurers' 2024 investment planning: doubling down on diversification and rethinking risk, including geopolitical and default risk.

Continue reading
event
Article
2024-12-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
1145233383
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Deglobalisation and divergence: opportunity or threat?

John Butler and Supriya Menon discuss the drivers underpinning growing macroeconomic divergence and deglobalisation and what it may mean for asset allocators. 

Continue reading
event
Article
2024-10-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
1054647674
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Income investing in multi-asset portfolios: Tipping the balance in your favour

Income can play a crucial role in the pursuit of investment objectives over time, but research from our iStrat Team argues for a balanced approach to asset allocation decisions given the potential trade-offs between income and capital return, risk, and portfolio diversification.

Continue reading
event
Whitepaper
2024-09-30
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
rising-temperatures-global-warming
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

Is your asset allocation ready for the realities of climate change?

Our Investment Strategy Team shares key findings from the research behind their climate-aware strategic asset allocation (SAA) approach, including challenges and trade-offs that asset owners should understand.

Continue reading
event
Quick Take
2025-06-30
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
rising-temperatures-global-warming
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.

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.

Continue reading
event
Whitepaper
2024-04-30
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Adapting our capital market assumptions to the realities of climate risk

How will asset prices be affected by climate risk? Members of our Investment Strategy team explain how they're seeking to answer that question with their new climate-aware capital market assumptions.

Continue reading
event
Quick Take
2024-04-30
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
pollution over ssky and windmill
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Integrating climate change into capital market assumptions: our approach and findings
Members of our Investment Strategy team explain how they are incorporating climate-related inputs, including physical and transition risks, into their capital market assumptions and outline the impact of these changes at the asset-class level.
Continue reading
event
Article
2024-04-30
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
149260296
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
Climate from the allocator's perspective
How do different asset allocators within Wellington incorporate climate change into their investment process as markets, data and regulation continue to evolve?
Continue reading
event
Event replay
2023-05-31
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.