Asset allocation

event October 2025

11 min

Article

2026-11-30

Papers with business report and magnifying glass

Corporate versus credit indices: What’s the best match for liability-driven investing?

When selecting benchmarks for LDI needs, corporate DB plan sponsors often ask about the differences between investment-grade corporate and credit indices. In this paper, we compare the composition and performance of corporate and credit indices, as well as intermediate and long maturity indices, and we offer insights on choosing indices that fit a plan’s liability.

Multiple authors

event October 2025

18 min

Article

2026-09-30

Asset Allocation Outlook

How to evolve your portfolio for the latest market conditions? Explore the latest monthly snapshot of Wellington Solutions' asset class views.

Multiple authors

event October 2025

4 min

Article

2026-10-11

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.

By

event October 2025

11 min

Article

2026-09-30

US public pensions on the move: Preparing for the future of asset allocation

Public pension experts Adam Berger and Amy Morse share their latest research on asset allocation trends and what they could mean for plans’ ability to hit their return targets. They also offer their top investment ideas for putting plans on a better path forward.

By

Amy Morse, CFA

event September 2025

15 min

Article

2027-09-30

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?

By

event September 2025

5 min

Article

2026-10-31

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.

By

Joshua Riefler

event September 2025

2 min

Infographic

2026-09-30

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.

By

Joshua Riefler

event September 2025

2 min

Article

2026-09-30

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.

By

Brij Khurana

event September 2025

4 min

Article

2026-08-28

(Re)emerging markets: 10 reasons for optimism

Our experts identify 10 reasons why now may be the time for investors to reconsider emerging markets.

Multiple authors

event August 2025

6 min

Article

2026-09-01

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.

By

Alyssa Irving

event July 2025

15 min

Article

2026-07-31

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

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

Allocating to alternatives: A role-based guide for corporate DB plans

For corporate plan sponsors thinking about weaving hedge funds and private equity into their portfolios, we offer this brief guide to the potential benefits and key considerations when establishing an allocation, including liquidity stress testing.

Multiple authors

event July 2025

17 min

Article

2027-06-30

Agile approach important amid market desynchronization

Global markets are desynchronizing, with macro volatility and intervention from governments leading to diverging economic outcomes. Increased dispersion may facilitate more frequent rotation on market leaders, as these charts from Alex King and Joshua Riefler help illustrate.

By

Joshua Riefler

event July 2025

5 min

Article

2026-07-31

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

event July 2025

13 min

Article

2026-06-30

Private credit: Is the illiquidity premium still worth it?

Our private credit team explores the value of the asset class’s illiquidity premium in today’s uncertain markets.

By

Emily Bannister, CFA

Sonali Wilson

event June 2025

6 min

Article

2026-06-30

CLO equity’s role in asset allocation

We discuss CLO equity's role in asset allocation, highlighting its potential income and diversification benefits. In addition, we explore its potential fit alongside private equity, private credit, and public equity allocations.

By

Alyssa Irving

Andrew Bayerl, CFA

event June 2025

5 min

Article

2026-06-30

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

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.

By

Brij Khurana

event May 2025

4 min

Article

2026-05-31

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

event May 2025

8 min

Article

2026-06-01

International equities: Five reasons they may not be a one-hit wonder

Global Investment and Multi-Asset Strategist Nanette Abuhoff Jacobson explains why those who doubt the staying power of the recent outperformance of international equities may want to reconsider.

By

event May 2025

4 min

Article

2026-05-31

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.

By

event May 2025

8 min

Article

2026-05-31

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.

By

Alyssa Irving

event April 2025

15 min

Article

2026-04-30

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.

By

Marco Giordano

John Mullins

event April 2025

8 min

Article

2026-05-31

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

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.

By

event April 2025

10 min

Article

2026-04-30

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.

By

Matthew Witheiler

event April 2025

12 min

Whitepaper

2026-03-31

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.

By

event April 2025

12 min

Article

2026-03-31

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.

By

event March 2025

4 min

Article

2026-03-31

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.

Multiple authors

event March 2025

10 min

Article

2026-03-31

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

European Union flags waiving at Berlaymont building of the European Commission in Brussels, Belgium

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.

Multiple authors

event March 2025

4 min

Infographic

2026-03-31

The high cost of unfunded duration — and some hope on the horizon

With many corporate DB plans thinking about managing their hedge ratios, members of our LDI Team explain the high cost of synthetic duration, how plans might want to think about this issue when targeting a specific duration profile, and why costs could improve over time.

Multiple authors

event March 2025

6 min

Article

2026-03-31

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

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.

By

Michael Barry

event February 2025

5 min

Article

2026-02-28

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.

Multiple authors

event February 2025

4 min

Article

2026-02-28

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

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

Turning tides for US Treasuries

Uncover the case for US Treasuries in fixed income portfolios against the current market backdrop.

By

Connor Fitzgerald, CFA

Schuyler Reece, CFA

event February 2025

3 min

Article

2026-02-28

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.

By

Noah Atlas, CFA

event January 2025

2 min

Infographic

2026-02-28

Ne year resolution yellow stickers banner

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

event January 2025

5 min

Article

2026-02-28

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

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

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

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.

By

event January 2025

6 min

Article

2025-12-31

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.

By

Nicolas Wylenzek

event December 2024

10 min

Article

2025-12-31

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

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

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?

By

Jeremy Butterworth

event December 2024

8 min

Article

2025-12-31

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

Helicopter view of the New York City skyline and the The Trump Building in Lower Manhattan, New York.

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.

Multiple authors

event November 2024

3 min

Infographic

2025-11-29

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

“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.

By

event November 2024

15 min

Whitepaper

2026-11-30

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

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.

Multiple authors

event November 2024

3 min

Infographic

2025-11-30

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

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..

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

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

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

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.

Multiple authors

event September 2024

3 min

Infographic

2025-09-30

Chart in Focus: The need to differentiate market growth from macro growth

Macro growth and earnings growth have been misaligned for the last 15 years, particularly in the US and China, but in opposite directions. For equity investors, what would be the key to identify real growth?

By

event September 2024

3 min

Infographic

2025-09-30

The US elections through the eyes of a European investor

Supriya Menon, Head of Multi-Asset Strategy – EMEA, explores what potentially material implications upcoming US elections could have for European investors and identifies key areas to monitor closely.

By

event September 2024

7 min

Article

2025-09-30

Extra credit for corporate plans: Advanced topics in LDI implementation

To help corporate DB plans refine their liability-hedging strategies, members of our LDI Team take a deep dive on 3 key liability risks and offer ideas to help improve the design of hedging portfolios.

By

Elisabeth Perenick, FSA, CFA

event September 2024

25 min

Whitepaper

2026-08-31

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

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

Time to capitalise on the evolving role of bonds?

We outline why we think the new economic era is elevating the role of bonds as a source of attractive and stable income, downside protection and portfolio diversification.

By

Marco Giordano

event September 2024

2 min

Article

2025-09-30

capital-securities-world-finance-technology-blue-banner

Capital securities: Why these hybrid investments may offer a compelling risk/reward profile

Members of our Fixed Income team explain why capital securities, a hybrid asset class that shares characteristics of bonds and stocks, may offer attractive diversification, income, and return potential.

By

Noah Atlas, CFA

Brian Garvey

event September 2024

6 min

Article

2025-08-31

Private placements: A primer for corporate DB plans preparing to derisk

With many corporate DB plans exploring derisking opportunities, Portfolio Manager Elisabeth Perenick and Multi-Asset Strategist Amy Trainor discuss the potential role that private investment-grade credit, or private placements, could play and consider common questions about liquidity and allocation sizing.

By

event August 2024

9 min

Article

2025-08-31

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

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

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.

By

Mark Sullivan, CFA, CMT

Vivian Bi, CFA

event July 2024

10 min

Article

2026-07-31

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.

By

Michael Medeiros, CFA

event July 2024

9 min

Article

2025-06-30

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.

By

Brian Barbetta

event July 2024

7 min

Article

2025-07-31

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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.

By

event July 2024

17 min

Article

2025-07-31

The evolution of derisking: Assessing new and time-tested liability-hedging ideas

As defined benefit plans contemplate the best path to their eventual “end state,” members of our LDI team update their liability-hedging research with a blend of traditional benchmark ideas and new opportunities to capitalize on changing market conditions and a broader investment universe.

By

event July 2024

22 min

Whitepaper

2026-06-30

Chart in Focus: Broadening earnings growth signals healthy US equity market

Over the past year, the markets have seen the companies best poised to harness and benefit from new innovations within artificial intelligence rewarded accordingly. Can this signal more upside for the entire US equity market?

By

event July 2024

3 min

Infographic

2025-07-31

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

All-time highs and CPIs: What comes next?

Global fundamentals have kept markets content so far this year, but will politics sour the mood? Members of our Investment Strategy & Solutions Group offer their views on the second half of 2024, including on equities, bonds, and commodities.

Multiple authors

event July 2024

14 min

Article

2025-01-08

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

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

event June 2024

4 min

Article

2025-06-30

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

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?

By

event June 2024

7 min

Article

2025-03-21

As India goes to the polls, is the case for Indian equities still compelling?

While current Prime Minister Narendra Modi is expected to secure a third term, a full-scale win is not a foregone conclusion. Against this backdrop and continued investor enthusiasm for Indian equities, Equity Portfolio Manager Niraj Bhagwat and Investment Director Philip Brooks assess the macro case for India. Are higher valuations justified?

By

Niraj Bhagwat

Philip A Brooks, CFA

event May 2024

6 min

Article

2025-06-30

Value stocks: Rules of thumb are meant to be broken

What will it take for value stocks to bounce back from a long period of underperformance? Members of our iStrat Team say that, conventional wisdom aside, it's not all about the economic cycle and offer their outlook for the next three to five years.

By

Karoline Klimova

event May 2024

9 min

Article

2026-05-31

Structuring core fixed income: A constructive view on market and macro conditions

Head of Multi-Asset Strategy Adam Berger and Fixed Income Portfolio Manager Connor Fitzgerald discuss the interest-rate environment and the fundamental picture in investment-grade credit and high yield.

By

Connor Fitzgerald, CFA

event May 2024

7 min

Article

2025-05-30

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

event May 2024

5 min

Article

2025-05-30

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.

By

Nataliya Kofman

event May 2024

7 min

Article

2025-05-31

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.

By

Peter Carpi

event May 2024

8 min

Article

2024-12-31

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

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.

Multiple authors

event April 2024

11 min

Article

2025-03-31

4 equity themes: Budding opportunities in small caps and more

Our expert highlights 4 areas where he sees opportunity in global equity markets.

By

event April 2024

3 min

Article

2025-04-30

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

Japan equity: Reason to believe

Our expert argues that corporate governance reform and the Japanese economy's escape from persistent deflation have laid the groundwork for a sustainable equity rally.

By

Toshiki Izumi, CFA, CMA

event April 2024

4 min

Article

2025-04-30

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

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

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 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

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

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.

Multiple authors

event March 2024

Article

2025-03-31

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

Adopt a new vantage point for diversifying your portfolio

Supriya Menon, Alex King and John Mullins explore why a diversified mixed of fixed income exposure is a key component of a nuanced approach to diversification in today's cyclical macro regime.

Multiple authors

event March 2024

7 min

Article

2025-01-31

How to nurture a growth mindset in a higher-yielding landscape

In a higher-yield world, can fixed income deliver meaningful growth? John Mullins, Supriya Menon and Alex King explore how high-yield bonds may offer a powerful opportunity for growth - as well as a cushion against uncertainty.

Multiple authors

event March 2024

12 min

Article

2025-03-31

Why high-yield investors should keep a close eye on the default cycle

A peak in defaults may not be far off. What does this mean for investors considering a move to high yield?

By

event March 2024

Article

2025-03-31

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

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

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

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

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

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

Credit: Better opportunities to add risk on the horizon

Our experts review current macro dynamics impacting the bond market and discuss where they see opportunities and risks across credit sectors.

By

Campe Goodman, CFA

Rob Burn, CFA

event December 2023

Article

2024-12-31

Will a “Goldilocks” economy be just right for equity markets?

We provide an outlook on the ongoing shift to new investment regime, and the market segments that we expect will most heavily influence global equity performance in the coming year.

By

event December 2023

Article

2024-12-31

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

event December 2023

Article

2024-12-31

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

event December 2023

Whitepaper

2025-12-31

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

Embracing uncertainty: Three alternatives ideas for a macro-driven world

Even as investors wrestle with the economic unknowns heading into 2024, Multi-Asset Strategists Nick Samouilhan and Adam Berger see opportunities to put alternative investments to work.

By

event December 2023

Article

2024-12-31

Beyond China: what does the rest of the EM equity world have to offer?

For investors contemplating a separate allocation to EM ex-China equities, members of our iStrat Team share their research on the composition of the opportunity set, the growing divergence in the behavior of EM ex-China equities and Chinese equities, and the long-term market outlook.

By

event November 2023

Article

2025-11-30

You snooze, you may lose: The case for bonds

There are signs the Federal Reserve's rate-hiking cycle may be nearing an end, but some uncertainty remains. With that in mind, Multi-Asset Strategist Nanette Abuhoff Jacobson considers the timing of a move from cash to bonds.

By

event November 2023

Quick Take

2024-11-14

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.

By

event August 2023

Video

2025-08-31

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

Raina Dunkelberger, CFA, CAIA

Jeremy Forster

event June 2023

Article

2025-06-30

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

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

Sector rotation opportunities for nimble credit investors

Following a credit market rally, Fixed Income Portfolio Manager Rob Burn still sees value in higher-yielding sectors but believes investors should stay nimble.

By

Rob Burn, CFA

event February 2023

Quick Take

2024-02-29

What’s driving convertibles in 2023?

Following a challenging 2022, Fixed Income Portfolio Manager Mike Barry and Investment Director Raina Dunkelberger highlight three tailwinds that may help turn the tide for convertibles.

By

Michael Barry

event February 2023

Quick Take

2024-01-31

CLOs: Poised to outperform in 2023?

Collateralized loan obligations (CLOs) have been sparking investor interest lately — and with good reason, say Investment Director Andrew Bayerl and Investment Specialist Celene Klimas.

By

Andrew Bayerl, CFA

Celene Klimas, CFA

event January 2023

Quick Take

2024-01-31

Small-cap value: Strong past, bright future?

While equity markets have had a challenging recent past, history teaches us that there may be several reasons to be optimistic about small-cap value.

Multiple authors

event January 2023

Article

2024-01-31

Take credit: Our five best credit market ideas for 2023

Fixed Income Strategist Amar Reganti highlights credit market opportunities that he expects to arise over the course of 2023, against a backdrop of slowing growth.

By

Adam Norman

event January 2023

Quick Take

2024-01-31

High yield: Opportunity to pivot in 2023?

Our high-yield bond portfolio managers have a guardedly optimistic outlook on the market and believe security selection will be key to benchmark-relative outperformance in 2023.

Multiple authors

event January 2023

Quick Take

2024-01-31

china economy poised to exceed expectations in 2023

China equity in 2023: Year of the stock picker

Despite the potential risks of investing in China equity, Equity Portfolio Manager Bo Meunier believes there are attractive opportunities for patient, discerning stock pickers.

By

Bo Meunier, CFA

event December 2022

Article

2023-12-31

Currency outlook: Nearing the end of USD exceptionalism?

Fixed Income Portfolio Manager Martin Harvey and Investment Communications Manager Jitu Naidu consider the present state of and outlook for the US dollar.

By

Jitu Naidu

Martin Harvey, CFA

event December 2022

Quick Take

2023-12-31

Hidden in plain sight: Overlooked opportunities in investment-grade credit

Fixed Income Strategist Amar Reganti and Investment Specialist Geoff Austein-Miller highlight some relatively simple, straightforward ways to implement a positive view on high-quality corporate credit.

By