Multi-asset

event July 2025

18 min

Article

2027-07-31

Inflation Interest rates Wellington on Washington and the World Content CoE Program Global Program Multi-asset Fiscal policy Asset allocation Article

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.

By

event July 2025

4 min

Article

2026-07-31

Multi-asset Strategic allocation Risk management DB Public Program Macro and market Top of Mind Article

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.

By

event July 2025

14 min

Article

2027-01-01

Macro and market Multi-asset Outlook Content CoE Program Global Program Equity Fixed income Article

Facing a new economic reality

We summarize our 2025 mid-year outlooks.

event July 2025

5 min

Article

2026-08-31

Macro and market Multi-asset Asset allocation Wealth Program Tactical allocation Monthly Asset Allocation Outlook Americas Brazil Canada Mexico USA APAC Asia Australia China India Japan EMEA Africa Europe France Germany Italy Russia United Kingdom Emerging markets Article

Asset Allocation Outlook

How to evolve your portfolio for the latest market conditions? Explore the latest monthly snapshot of our Multi-Asset Team’s asset class views. For professional, institutional or accredited investors only. Capital at risk.

Multiple authors

event July 2025

4 min

Article

2026-07-18

Fiscal policy Monetary policy Tactical allocation Content CoE Program Global Program Multi-asset Outlook Article

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.

By

Supriya Menon

event July 2025

13 min

Article

2026-06-30

Macro and market Multi-asset Asset allocation Content CoE Program Global Program Fiscal policy Inflation Interest rates Article Infographic Investment Angles

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.

By

event June 2025

4 min

Article

2026-06-30

Outlook Macro and market Portfolio strategy Equity Fixed income Multi-asset USA APAC EMEA Emerging markets Active management Article

New regime, new reality: Time to adapt?

Explore our latest views on risks and opportunities across the global capital markets.

event June 2025

Article

2026-06-30

active-views-event-hero-page-banner-image

ActiveViews Macro and market Multi-asset Wealth Program Event replay

Where’s my safe haven? A global investor perspective on the tariff tantrum

Portfolio Manager Martin Harvey shares his insights on how global investors may need to reassess long-held assumptions in light of shifting global dynamics.

By

Martin Harvey, CFA

Will Lockhart

event May 2025

25 min

Event replay

2026-05-31

LDI Alert Macro and market Asset allocation DB Private Program Multi-asset Strategic allocation Article

How is funded status holding up in the volatility? Updates on the corporate DB landscape

Members of our LDI Team share key takeaways from their latest analysis of US corporate pension plans' funded status, derisking activity, and ROA assumptions, as well as their outlook for plan contributions.

By

Jacqueline Yang, CFA

event May 2025

8 min

Article

2026-06-01

USA Macro and market Tactical allocation Wealth Program Multi-asset Asset allocation Article Fixed income Equity

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.

Multiple authors

event April 2025

5 min

Article

2026-04-30

Economic cycle Market commentary Quarterly Market Review Institutional Program Multi-asset Article

Quarterly Market Review — 1Q25

An update on equity, fixed income, currency, and commodity markets.

By

event April 2025

18 min

Article

2026-04-30

Risk management Regulatory Asset allocation FRM Program Insurance Insurance Quick Takes Private credit Multi-Asset solutions Multi-asset Balance sheet Americas Multi-Asset qualifier Video

Insurance Quick Takes: Positioning portfolios for what’s next in private credit

In our latest Insurance Quick Takes video, Tim Antonelli, head of Insurance Multi-Asset Strategy and portfolio manager, discusses the 2025 outlook for private credit and its implications for insurers.

By

event March 2025

8 min

Video

2026-03-31

Macro and market Geopolitics Tactical allocation Content CoE Program Global Program iStrat Multi-asset Wellington on Washington and the World Article

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.

By

event March 2025

4 min

Article

2026-03-31

Economic cycle Market commentary Monthly Market Review Institutional Program Multi-asset Article

Monthly Market Review — January 2025

A monthly update on equity, fixed income, currency, and commodity markets.

By

event February 2025

18 min

Article

2026-02-28

LDI Alert Macro and market Asset allocation DB Private Program Private pension (DB) iStrat Multi-asset Strategic allocation Liability-driven investing Article

Flipping the script: Our updated market outlook and the derisking/rerisking decision

Members of our LDI Team share an unusual outlook for equities and bonds and explain what it could mean for US corporate pension plans contemplating either derisking or rerisking moves from here.

By

Ian Spencer

event February 2025

6 min

Article

2026-02-28

Fixed income Insurance Regulatory FRM Program Balance sheet Multi-Asset solutions Americas Insurance Quick Takes Asset allocation Video

Insurance Quick Takes: The latest from the NAIC on CLO and bond fund capital charges

In our latest Insurance Quick Takes video, Tim Antonelli, Head of Insurance Multi-Asset Strategy and Portfolio Manager, offers a timely update on two important investment-related projects discussed in a special NAIC meeting.

By

event February 2025

6 min

Video

2026-02-27

Government bonds Artificial intelligence (AI) Disruption Content CoE Program Global Program Information technology Multi-asset USA China EM equity Large-cap Opportunistic Fixed Income Article Yielding insights

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.

By

Brij Khurana

event February 2025

6 min

Article

2026-02-28

Economic cycle Market commentary Content CoE Program Global Program Multi-asset Quarterly Market Review Article

Quarterly Market Review

A quarterly update on equity, fixed income, currency, and commodity markets.

By

event January 2025

18 min

Article

2026-01-31

Macro and market Volatility Outlook Content CoE Program Global Program Multi-asset Article Infographic

Picture this: Economic forecast in 6 charts

We offer our 2025 economic and market forecasts across the capital markets in 6 charts.

event January 2025

10 min

Article

2025-07-15

Economic cycle Market commentary Monthly Market Review Institutional Program Multi-asset Article

Monthly Market Review — December 2024

A monthly update on equity, fixed income, currency, and commodity markets.

By

event January 2025

18 min

Article

2026-01-31

Economic cycle Market commentary Monthly Market Review Institutional Program Multi-asset Article

Monthly Market Review — November 2024

A monthly update on equity, fixed income, currency, and commodity markets.

By

event January 2025

18 min

Article

2025-12-31

Ne year resolution yellow stickers banner

Active management Multi-asset Tactical allocation Wealth Program iStrat Wealth Article

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.

By

Alex King, CFA

event January 2025

5 min

Article

2026-02-28

Income Inflation Thematic exposure Content CoE Program Global Program iStrat Multi-asset Tactical allocation Outlook Article

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?

By

event January 2025

8 min

Article

2025-12-31

Liquid alternatives & hedge funds Macro and market Multi-asset DB Public Program iStrat Strategic allocation Risk management Top of Mind Article

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.

By

event January 2025

15 min

Article

2026-01-30

Artificial intelligence (AI) Volatility Outlook Content CoE Program Global Program Multi-asset Fiscal policy Inflation Interest rates Article

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.

event January 2025

3 min

Article

2026-06-06

Liability-driven investing Multi-asset Strategic allocation DB Private Program iStrat Private pension (DB) Article

LDI in 2025: Ten questions corporate plan sponsors are asking

Members of our LDI Team address a range of topics that US corporate plans will be thinking about this year, from pension funding and accounting issues to portfolio diversification opportunities.

By

Ryan Randolph

event January 2025

12 min

Article

2026-01-31

Active management Liquid alternatives & hedge funds Multi-asset Content CoE Program Global Program Article Private investing

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.

By

Jean Hynes, CFA

event December 2024

9 min

Article

2025-12-31

Multi-asset Outlook iStrat Brand Content CoE Program Global Program Article

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.

Multiple authors

event December 2024

Article

2025-12-31

Fiscal policy Interest rates Tactical allocation Content CoE Program Global Program iStrat Multi-asset Outlook Article

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.

Multiple authors

event December 2024

12 min

Article

2025-12-31

Geopolitics Volatility Multi-asset Macro and market Top of Mind Article iStrat Tactical allocation DB Public Program

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.

By

event December 2024

15 min

Article

2025-12-01

Macro and market Multi-asset Tactical allocation FRM Program iStrat Article Balance sheet

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.

By

event November 2024

14 min

Article

2025-11-30

Economic cycle Market commentary Monthly Market Review Institutional Program Multi-asset Article

Monthly Market Review — October 2024

A monthly update on equity, fixed income, currency, and commodity markets.

By

event November 2024

18 min

Article

2025-11-30

Liability-driven investing Strategic allocation Regulatory DB Private Program Multi-asset Whitepaper iStrat

Setting ROAs for 2025: A guide for US corporate and public plans

How are pension plans adjusting their ROA assumptions? And how do those assumptions line up with our long-term capital market assumptions? Find out in this annual update.

Multiple authors

event November 2024

16 min

Whitepaper

2025-11-30

USA Elections Tactical allocation Content CoE Program Global Program Wellington on Washington and the World Multi-asset iStrat iStrat Video

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.

Multiple authors

event November 2024

Video

2025-11-30

USA Elections Wellington on Washington and the World Content CoE Program Global Program Multi-asset Article Sourced Group (iSci, iStrat)

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.

By

Michael Medeiros, CFA

event November 2024

5 min

Article

2025-11-30

Elections Market commentary Multi-asset Content CoE Program Global Program Wellington on Washington and the World Americas Discretionary Article

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.

Multiple authors

event October 2024

3 min

Article

2025-10-31

Insurance Multi-asset Regulatory FRM Program Insurance Quick Takes Asset allocation Americas Multi-Asset solutions Multi-Asset qualifier Balance sheet Video

Insurance Quick Takes: Navigating the Principles-Based Bond Definition Project

In our latest Insurance Quick Takes video, Tim Antonelli breaks down the NAIC’s Principles-Based Bond Definition (PBBD) project and implications for US insurers.

By

event October 2024

6 min

Video

2025-10-31

Forked road in St. James Gardens, Liverpool. St James's Cemetery is an urban park behind the Liverpool Cathedral. This photo symbolise a choice between two different paths. Diminishing perspective point of view..

Liability-driven investing Risk management Tactical allocation iStrat Private pension (DB) Multi-asset Article

Why more corporate plans should pass on pension risk transfers

LDI Team Chair Amy Trainor explains why she believes a pension risk transfer may, in many cases, not be the best choice for fully funded plans from a cost/benefit standpoint.

By

event October 2024

5 min

Article

2025-11-30

Quarterly Market Review Economic cycle Market commentary Institutional Program Multi-asset Article

Quarterly Market Review

A quarterly update on equity, fixed income, currency, and commodity markets.

By

event October 2024

18 min

Article

2026-10-31

Economic cycle Market commentary Monthly Market Review Institutional Program Discover Multi-asset Article

Monthly Market Review — September 2024

A monthly update on equity, fixed income, currency, and commodity markets.

By

event October 2024

18 min

Article

2025-10-31

Insurance Multi-asset Tactical allocation FRM Program iStrat Monetary policy Article

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.

By

event October 2024

18 min

Article

2025-10-31

Monetary policy Multi-asset Tactical allocation Content CoE Program Global Program Elections Quarterly Asset Allocation Outlook Article iStrat

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.

Multiple authors

event October 2024

12 min

Article

2025-10-31

Monthly Market Review Multi-asset Institutional Program Fixed income Equity Commodities Market commentary Geopolitics Economic cycle Article

Monthly Market Review — August 2024

A monthly update on equity, fixed income, currency, and commodity markets.

By

event September 2024

12 min

Article

2025-09-30

Macro and market Outlook Asset allocation Content CoE Program Global Program Liquid alternatives & hedge funds Fixed income Multi-asset Private investing Client objective Infographic

Picture this: Our forecast in 7 charts

What should investors expect for the remainder of 2024? View a visual summary of our Investment Outlook in seven compelling charts.

event September 2024

10 min

Infographic

2025-09-30

USA Elections Tactical allocation Wealth Program iStrat Geopolitics Wellington on Washington and the World Multi-asset Article

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.

Multiple authors

event September 2024

6 min

Article

2025-09-30

Insurance Multi-asset Regulatory FRM Program iStrat Credit Macro and market Video Tactical allocation

Insurance Quick Takes: US life insurers’ utilization of private placements

In our latest Insurance Quick Takes video, Tim Antonelli discusses research on US life insurers’ use of private placement investments, and shares observations for insurers globally.

By

event August 2024

3 min

Video

2025-08-08

Market disruptions Volatility Tactical allocation Institutional Program Content CoE Program Global Program Interest rates Multi-asset iStrat Article

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.

By

event August 2024

3 min

Article

2025-08-31

Small-cap Diversification Multi-asset Tactical allocation Wealth Program Inflation Article iStrat

Breaking concentration: big picture thinking with small-cap equities

How to overcome the risks associated with today's concentrated market? Investment Director John Mullins explores why small-cap equities could be part of the answer.

By

John Mullins

event July 2024

6 min

Article

2025-07-31

Fixed income Market disruptions Volatility Content CoE Program Global Program Macro and market Multi-asset USA Article Yielding insights

Ok, Boomer: How US generational wealth distribution could upend the economy and markets

Fixed Income Portfolio Manager Brij Khurana discusses the implications of US Baby Boomers' wealth concentration in the event of a market decline.

By

Brij Khurana

event July 2024

5 min

Article

2025-06-30

Active management Macro and market Macro Thematic solutions Equity Multi-asset Article iStrat Tactical allocation

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.

By

event June 2024

8 min

Article

2025-06-30

Insurance Regulatory Multi-asset USA Insurance Quick Takes iStrat program Video Tactical allocation iStrat

Insurance Quick Takes: One regulator's view of geopolitics’ impact on the industry

In our latest Insurance Quick Takes video, Tim Antonelli, Head of Insurance Multi-Asset Strategy and Portfolio Manager, discusses why a recent stress test from a regulator could have implications for insurers across the globe.

By

event June 2024

5 min

Video

2025-06-30

Hedge funds Outlook Market disruptions Tactical allocation Multi-asset Long-short Macro hedge funds Multi-strat hedge funds Article iStrat

Investing in “3D”: Forces shaping alternatives opportunities in 2024

Multi-Asset Strategists Adam Berger and Nick Samouilhan offer six ideas from the hedge fund and liquid alternatives investment space, from global macro to multi-strategy approaches.

By

Nick Samouilhan, PhD, CFA, FRM

event June 2024

4 min

Article

2025-06-30

Elections Inflation Outlook Interest rates Article Equity Fixed income Multi-asset

Thriving or surviving? The state of the US consumer and the economic implications

Macro Strategist Juhi Dhawan examines the condition of the all-important consumer, including the outlook for spending, the effects of inflation and prevailing interest rates, and the consequences for the overall economy.

By

Juhi Dhawan, PhD

event June 2024

8 min

Article

2025-06-30

Multi-asset iStrat Tactical allocation Article Fixed income Interest rates Quarterly Asset Allocation Outlook

With the Fed on hold, is the case for bonds kaput?

Amid worries about sticky inflation, the market has scaled back its expectations for interest rate cuts this year. But even if rate cuts are on hold a while longer, members of our Multi-Asset Team still think investors should consider a move from cash to bonds.

By

Nick Samouilhan, PhD, CFA, FRM

Alex King, CFA

event May 2024

5 min

Article

2025-05-30

Asset allocation Economic cycle Interest rates iStrat program Multi-asset iStrat Video Tactical allocation

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.

By

event May 2024

2 min

Video

2025-04-30

Manager selection Climate Sustainable investing iStrat program Strategic allocation Active management Equity Fixed income Multi-asset Liquid alternatives & hedge funds Article iStrat Tactical allocation

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.

Multiple authors

event April 2024

3 min

Article

2025-04-30

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Insurance Asset allocation Macro and market Balance sheet iStrat Multi-asset Tactical allocation Quarterly Asset Allocation Outlook iStrat program Article

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.

By

event April 2024

17 min

Article

2025-04-30

Multi-asset iStrat Tactical allocation Asset allocation Article Interest rates Economic cycle iStrat program Quarterly Asset Allocation Outlook

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.

Multiple authors

event April 2024

Article

2025-03-31

Manager selection Climate iStrat program Strategic allocation Multi-asset iStrat Whitepaper

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.

Multiple authors

event March 2024

Whitepaper

2026-03-31

Insurance Regulatory Multi-asset USA Insurance Quick Takes iStrat program Video Tactical allocation iStrat

Insurance Quick Takes: What's next for CLO risk charges?

Tim Antonelli, Head of Insurance Multi-Asset Strategy and Portfolio Manager, breaks down the impact of recent US insurance regulatory developments on the CLO universe, and why this matters for U.S. insurers.

By

event March 2024

Video

2025-03-31

Liability-driven investing Equity Private pension (DB) iStrat Factor solutions Multi-asset Strategic allocation Factors iStrat program Article

Using defensive equities in a return-seeking portfolio: A factor framework for corporate plans

Members of our LDI and Fundamental Factor teams share their views on defensive equity investments, including their role in a plan's portfolio and the current environment for defensive factors.

By

Tom Simon, CFA, FRM

event March 2024

Article

2025-03-31

Income Fixed income Asset allocation iStrat program Inflation Value vs growth Economic cycle Monetary policy Tactical allocation Equity Multi-asset Article iStrat

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, Alex King, Supriya Menon and John Mullins think the case for income only gets stronger. How can investors make the most of opportunities?

Multiple authors

event March 2024

5 min

Article

2025-03-31

wellington-swift-broken-plate-banner-hero

Macro and market Economic cycle Active management Fixed income Multi-asset Macro Video

How to reposition for a new economic era?

In this short video, Macro Strategist John Butler outlines the key features of the new economic era we are now entering.

By

John Butler

event March 2024

4 min

Video

2025-03-31

Income Asset allocation Active management iStrat Multi-asset Inflation Article Tactical allocation

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?

By

John Mullins

event March 2024

Article

2025-02-23

Insurance Regulatory Multi-asset Multi-Asset solutions USA Insurance Quick Takes iStrat program Video

Insurance Quick Takes: IFRS S1 and S2: What's the impact to insurance investing?

Tim Antonelli, Head of Multi-Asset Strategy – Insurance, discusses the implications of two new sustainability reporting standards for global insurers, IFRS S1 and IFRS S2, and why it's not just IFRS filers that should pay attention.

By

event February 2024

Video

2024-11-30

Asset allocation Risk management Multi-asset Currency Strategic allocation iStrat program Article iStrat

Managing currency exposure in multi-asset portfolios: how to weigh the trade-offs and impact

Nick Samouilhan, Head of Multi-Asset Strategy – APAC, evaluates the trade-offs of different currency hedging approaches and offers a novel framework for gauging their potential portfolio impact.

Multiple authors

event February 2024

Article

2026-02-28

Macro and market Economic cycle Portfolio strategy Multi-asset Macro Market commentary Thematic exposure Outlook Article

Trends and transformation distilled: Our 2024 outlook in brief

Our experts explore investment opportunities and risks for the year ahead.

Multiple authors

event February 2024

Article

2025-02-28

Macro and market Multi-asset iStrat Top of Mind iStrat program Article Public pension (DB) Tactical allocation

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.

By

event January 2024

Article

2025-01-31

Outlook Multi-asset iStrat Tactical allocation Manager selection iStrat program Brand Article

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?

By

event January 2024

Article

2025-01-31

Outlook Multi-asset iStrat Emerging Market Development Multi-Asset solutions Factor solutions Tactical allocation Strategic allocation Manager selection Thematic exposure Article

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

Multiple authors

event January 2024

Article

2024-12-31

Monetary policy Economic cycle Tactical allocation Inflation Multi-asset Article iStrat program iStrat

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.

Multiple authors

event January 2024

Article

2026-01-31

Macro and market Multi-asset iStrat Equity Fixed income Risk management Top of Mind iStrat program Article Tactical allocation

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.

By

Nick Samouilhan, PhD, CFA, FRM

event December 2023

Article

2024-12-31

Asset allocation Multi-asset Risk management iStrat Strategic allocation iStrat program Whitepaper

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.

By

Jacqueline Yang, CFA

event December 2023

Whitepaper

2025-12-31

Macro and market Asset allocation Portfolio construction Balance sheet iStrat Multi-asset Equity Fixed income iStrat program Article Tactical allocation

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.

By

event December 2023

Article

2024-12-31

Outlook Sustainability Volatility Climate Strategy Emerging Market Development Global Impact Global Impact Bond Global Stewards Global Impact Bond Multi-asset Sustainable investing

The growing importance of supply chain transparency

Head of Sustainable Investment Wendy Cromwell explains why supply chains remain a key investment risk and details related research areas for our SI team in 2024.

By

Wendy Cromwell, CFA

event December 2023

2024-12-31

Asia China Asia tech China Currents Macro and market Market commentary Multi-asset Distribution Quick Take

Full speed ahead: China’s race to implement AI

Our experts examine market implications of China's AI expedition.

By

Yash Patodia

Terry Chen

event November 2023

Quick Take

2024-11-29

Outlook Geopolitics Information technology Asian Opportunities China Focus Equity Asia Technology Multi-asset USA China Brand Article

How geopolitics and the energy transition may reshape global trade

We explore the potential near- and longer-term market effects of deteriorating US/China relations, coupled with the shift toward a low-carbon economy.

By

Santiago Millán, CFA

event November 2023

Article

2024-11-30

China Economic cycle Real estate China Focus Equity Multi-asset Macro Market commentary Outlook Article China Currents

Getting Real: China looks beyond real estate for economic success

Our experts explore signs of an improving macro picture in China.

By

Johnny Yu, CFA

Han Sia Yeo

event November 2023

Article

2024-11-27

Income Asset allocation Multi-asset iStrat Whitepaper Strategic allocation

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.

Multiple authors

event September 2023

Whitepaper

2024-09-30

Income Volatility Multi-asset Asia advised retail Asia Diversification Article

Three themes (and what they mean) for income investors

With several macro crosscurrents at play, Portfolio Manager Peter Wilke suggests that income-oriented investors not lose sight of the “big picture” in their quest for yield.

Multiple authors

event September 2023

Article

2024-09-15

Insurance Multi-asset Regulatory Balance sheet Video iStrat Multi-Asset solutions Tactical allocation Insurance Quick Takes

Insurance Quick Takes: Understanding the latest shifts in mortality and longevity

Tim Antonelli, Head of Multi-Asset Strategy – Insurance, discusses recent trends and patterns on mortality and longevity, why this topic is important for global insurers of all types and sizes today, and potential opportunities.

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event August 2023

Video

2025-08-31

Economic cycle Japan Monetary policy Opportunistic Fixed Income Multi-Sector Credit Global Credit Plus Euro High Yield Global High Yield Government bonds EM debt Investment grade High yield Fixed income Equity Multi-asset Interest rates Quick Take

How to interpret the Bank of Japan’s latest policy shift

We analyse the wide-ranging investment implications of the Bank of Japan's latest policy shift.

By

Marco Giordano

event August 2023

Quick Take

2024-08-04

Multi-asset Volatility iStrat Risk management Tactical allocation Asset allocation Article Economic cycle Insurance Asset Allocation Outlook Balance sheet Insurance

Core fixed income: Stop me if you’ve heard this one before

Head of Multi-Asset Strategy – Insurance and Portfolio Manager Tim Antonelli updates insurers on the status of the market today, shares what he believes they can expect for the rest of the year, and identifies areas that may be worth a closer look.

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event July 2023

Article

2024-07-31

Multi-asset iStrat Tactical allocation Asset allocation Article Macro and market Outlook Quarterly Asset Allocation Outlook

Multi-Asset Outlook: A recession is looming…or is it?

The economy has largely shrugged off the banking crisis and other concerns this year, while riding positive sentiment driven by AI enthusiasm and a possible soft landing. Members of our Investment Strategy team offer their macro and market outlook for the second half of the year, including their latest views on equities, bonds, and commodities.

Multiple authors

event July 2023

Article

2024-07-31

Outlook Portfolio construction iStrat Multi-asset Portfolio strategy Article Tactical allocation

How to weather the storm: A roadmap for more resilient portfolios

As we face a new era of elevated market and cycle volatility, Co-Head of Investment Strategy Natasha Brook-Walters assesses how asset owners can ensure that their portfolios are up for the challenge.

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event July 2023

Article

2024-07-31

Outlook Portfolio strategy Equity iStrat Emerging Market Development Multi-asset Macro and market Article Thematic exposure Tactical allocation

How a thematic approach can help harness change within portfolios

Multi-Asset Strategist Supriya Menon and Investment Director Andrew Sharp-Paul discuss why a thematic approach can help harness change within portfolios against a structurally different macroeconomic backdrop.

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Supriya Menon

Andrew Sharp-Paul

event July 2023

Article

2024-07-31

Liability-driven investing Portfolio construction Multi-asset iStrat Private pension (DB) Article Strategic allocation Liquid alternatives & hedge funds

Mind the liquidity (and cost) gap: Revisiting a plan’s hedge-ratio approach

Members of our LDI Team take a fresh look at the process of setting and managing liability hedge ratio targets, including liquidity considerations that are top of mind today and the implementation toolkit.

By

Jeremy Forster

event June 2023

Article

2025-06-30

Climate Macro and market iStrat Multi-asset Strategic allocation Liquid alternatives & hedge funds Tactical allocation Article

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.

Multiple authors

event June 2023

Article

2025-06-30

Multi-asset Liquid alternatives & hedge funds iStrat Strategic allocation Public pension (DB) Equity Fixed income Whitepaper Private equity

Closing the return gap: A new set of “stepping stone” ideas

Multi-Asset Strategist Adam Berger offers incremental, flexible investment ideas that can be combined to help asset owners pursue their goals amid declining capital market return expectations.

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event May 2023

Whitepaper

2024-08-02

Climate Multi-asset iStrat Sustainable investing Whitepaper Strategic allocation Liquid alternatives & hedge funds Tactical allocation

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.

Multiple authors

event April 2023

Whitepaper

2024-04-30

Fiscal policy Geopolitics Macro and market Multi-asset USA Volatility Quick Take Currency

Debt and dysfunction in Washington: The US hits the ceiling (again)

Global Investment Strategist Nanette Abuhoff Jacobson talks to Macro Strategist Mike Medeiros about the US debt-ceiling showdown and considers its potential investment implications.

By

Michael Medeiros, CFA

event February 2023

Quick Take

2024-02-29

Europe Inflation Economic cycle Outlook No Optimizely Monetary policy Interest rates Fiscal policy Multi-asset Article

Why Europe could surprise in 2023

Eoin O’Callaghan and John Butler discuss the contrasting prospects of the Euro Area and the UK and why 2023 could bring positive surprises in the region.

By

Eoin O'Callaghan

John Butler

event December 2022

Article

2023-12-31

Inflation Volatility Economic cycle Alternatives investing Outlook No Optimizely Multi-asset Fixed income Equity Liquid alternatives & hedge funds Video

A new economic era: Why inflation, volatility, and cycles are back

Macro Strategist John Butler argues that a seismic global shift is underway that will disrupt the macro dynamics of the past two decades, challenging long-held investment assumptions.

By

John Butler

event November 2022

Video

2023-12-31

Monetary policy Interest rates Inflation Economic cycle USA Multi-asset Quick Take

The Fed’s “lean, leave, then clean” strategy

US inflation could prove "stickier" than many observers think. How might that influence Fed policy into 2023? Fixed Income Portfolio Manager Jeremy Forster opines.

By

Jeremy Forster

event September 2022

Quick Take

2022-12-31

Macro and market Economic cycle Inflation Multi-asset Quick Take

Wellington investor survey: Global recession tops investors’ concerns

The latest Wellington investor survey shows that our investment teams are increasingly concerned about the economic cycle, with 45% seeing a global recession over the next 12 months as the most likely outcome.

By

Ben Cooper, CFA

Juhi Dhawan, PhD

event August 2022

Quick Take

2022-11-30

Inflation Monetary policy Commodities Asset allocation Multi-asset USA Quick Take

Investment takeaways from the latest inflation data

With 2022's structural inflation story still very much intact, now may be a particularly opportune time for investors to add real-asset and inflation-sensitive exposures to their portfolios.

By

Jake Coyne, CFA, CAIA

Willa Sun

event August 2022

Quick Take

2022-11-30

Economic cycle Inflation Portfolio strategy Interest rates Monetary policy Multi-asset Quick Take

Positioning for a “pricey” recession scenario

Client Portfolio Manager Jitu Naidu and Fixed Income Strategist Amar Reganti offer portfolio positioning ideas for the potential recession scenario that may lie ahead.

By

Jitu Naidu

Amar Reganti

event August 2022

Quick Take

2022-11-30

Outlook Inflation Volatility Economic cycle Liquid alternatives & hedge funds Equity Multi-asset Article

Mid-2022 Global Economic Outlook

We believe heightened geopolitical uncertainty, and the new macro environment of deglobalization, higher inflation, greater global cyclicality and volatility will disrupt and drive markets.

Multiple authors

event June 2022

Article

2023-07-31

monthly-market-snapshot-june-2017-1500x410

Multi-asset Macro and market Article

Monthly Market Snapshot: May 2022

A monthly update on equity, fixed income, currency, and commodity markets.

By

Ryan Greenleaf, CFA

event June 2022

Article

2022-08-15

Insurance Inflation Multi-asset Interest rates Insurance Asset Allocation Outlook Whitepaper

Higher inflation, rising rates: Front and center for insurers

With macro and market complications piling up through the first few months of 2022, Insurance Multi-Asset Strategist Tim Antonelli provides his investment implications for global insurers.

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event April 2022

Whitepaper

2022-10-15

China Russia Geopolitics Volatility Multi-asset Article

What does the Ukraine invasion mean for China?

Macro Strategist Santiago Millán argues that the scale and breadth of the sanctions on Russia have increased the uncertainty of investing in China across multiple dimensions. He explores the continued decoupling of China and the West.

By

Santiago Millán, CFA

event March 2022

Article

2022-06-30

China Russia Inflation Volatility Geopolitics Multi-asset Article

China is not Russia: Reasons to stay invested

Equity Portfolio Manager Greg Mattiko challenges investors to look at actions rather than conjecture when considering reduced exposure to China.

By

Greg Mattiko, CFA

event March 2022

Article

2023-03-31

Russia Geopolitics Multi-asset Inflation Volatility Article

War in Ukraine: Five observations on recent developments

Macro Strategist Gillian Edgeworth assesses recent developments in the escalating Russia/Ukraine conflict and highlights five key implications.

By

Gillian Edgeworth

event March 2022

Article

2023-03-31

Macro and market Multi-asset Equity Europe Article

War and markets: What's the connection?

Amid the geopolitical turmoil and tragic humanitarian fallout of the Russia/Ukraine crisis, many investors are naturally also concerned about the negative effects the escalating conflict could have on their portfolios. With that in mind, I thought I’d provide a quick snapshot of the impacts that past wars have tended to have on asset prices.

By

Owen Lamont, PhD

event March 2022

Article

2023-03-31

Geopolitics Russia Multi-asset Article

Geopolitical observations on Ukraine

Geopolitical Strategist Thomas Mucha integrates his observations with those of his senior-level military, intelligence and diplomatic contacts to offer insights on the potential consequences of Russia’s invasion of Ukraine.

By

Thomas Mucha

event March 2022

Article

2023-03-31

Multi-asset Quick Take Russia Geopolitics

Can Ukraine’s economy withstand another conflict with Russia?

Macro Strategist Gillian Edgeworth assesses Ukraine’s outlook in the face of renewed conflict with Russia and finds that under most scenarios Ukraine's macro-economic prospects may be less negative than perhaps is assumed.

By

Gillian Edgeworth

event February 2022

Quick Take

2023-02-28

Climate Risk management Sustainability Multi-asset Sustainable investing Article

Hedging climate risk: The best defense is a good offense

Climate risks have the potential to create a long-term return drag on investment portfolios. We suggest a straightforward approach to hedging the deleterious effects of climate change.

By

Erika Murphy, CFA, CAIA

event February 2022

Article

2023-02-28

Multi-asset Geopolitics Article

Monthly Market Snapshot: January 2022

A monthly update on equity, fixed income, currency, and commodity markets.

By

Greg Galajda

event February 2022

Article

2022-07-15

Multi-asset Macro and market Article

Monthly Market Snapshot: December 2021

A monthly update on equity, fixed income, currency, and commodity markets.

By

Greg Galajda

event January 2022

Article

2022-07-15

Macro and market Multi-asset Article

Financial Market Review: Fourth quarter 2021

A quarterly review of results in the global equity, fixed income, currency, and commodity markets.

By

Greg Galajda

event January 2022

Article

2022-07-15

Insurance Multi-asset Inflation COVID Whitepaper Credit ESG

Three transition year themes — inflation, capital, ESG

Insurance Multi-Asset Strategist Tim Antonelli believes 2022 could be a year of transition for the global insurance industry, with the three big themes of inflation, capital, and ESG likely to play prominent roles in many insurers’ strategic planning and decisions.

By