All Commentary articles
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White papersCrisis highlights diversification
The year-to-date has been characterised by a series of geopolitical events. While markets largely shrugged off the US military action in Venezuela, the war in the Middle East triggered a sharp rise in energy prices, with knock-on effects across global markets.
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White papersFour scenarios for the future of AI
Artificial intelligence continues to evolve at a rapid pace. Models are improving, computing costs are easing and companies are beginning to report tangible efficiency gains.
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White papersConflict affecting sentiment
The Eurozone March PMI survey fell during the previous month, indicating businesses are getting worried about the Middle East conflict.
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White papersHow a strategic specialist partner in clean power and grid services can play their part in data centre grid access
Data centres have become foundational to the modern digital economy. They host large‑scale computing, storage, and networking infrastructure that underpins cloud services and AI workloads.
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White papersBeyond U.S. exceptionalism
Concerns are growing over economic activity, political tension and policy uncertainty in the U.S., creating a challenging investment environment. Headlines throughout 2025 and so far in 2026 underlined this uneasiness; foreign investors were reportedly leaving U.S. markets in droves amid currency volatility and tariff-driven fears, possibly spelling the end of U.S. exceptionalism as we know it. Adding to these doubts is the spectre of an increasingly deglobalized world.
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White papersMind the underinvestment gap: Shaping the UK’s future through private markets investment
With significant underinvestment placing pressure on the UK’s social infrastructure, we consider how institutional capital can drive regeneration and unlock long term social and economic benefits.
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White papersFive charts that put market volatility in perspective
Fallout from the intensifying war in the Middle East has once again put market volatility in the spotlight.
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White papersGermany’s Mittelstand at a turning point: the pivotal role of private debt
Germany’s mid-market is in transition, and private debt is playing a pivotal role. Digitalisation, energy, sovereignty and succession: these shifts are reshaping priorities and creating new financing needs.
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White papersInnovation at work: building a resilient private market ecosystem
Private markets have entered a phase shaped not only by secular shifts, but also by heightened geopolitical uncertainty and growing scrutiny around risk.
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White papersRethinking resilience in private credit
For much of the past decade, emerging markets (EM) were viewed primarily as a high-beta extension of global growth. Allocators tended to treat the asset class as cyclical exposure, sensitive to dollar strength, commodity swings, and Federal Reserve policy shifts.
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White papersThe great risk reversal: why emerging markets look structurally different in 2026
For much of the past decade, emerging markets (EM) were viewed primarily as a high-beta extension of global growth. Allocators tended to treat the asset class as cyclical exposure, sensitive to dollar strength, commodity swings, and Federal Reserve policy shifts.
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White papers10 themes for private assets in 2026
A resilient but uneven backdrop favours private markets. As liquidity solutions and transparency improve and deal flow recovers, privates will increasingly compete with listed markets – but outcomes will hinge on sector selection, execution and capital‑structure design.
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White papersRisk Assets: Dispersion Trumps Directionality
2026 was unlikely to be a year for broad market beta. The Middle East conflict and the AI-driven sell-off have now made that case impossible to ignore.
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White papersDemystifying Hybrid Clean Power Generation Projects
Hybrid generation projects are becoming an increasing feature of the clean energy transition, so we asked Kevin Ryan, Senior Director Investments in NTR for his insights on what they are and key considerations for successfully investing in them.
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WebinarPlayback | How to navigate market volatility sparked by the Iran war?
During this webinar, our experts Vincent Mortier, Group Chief Investment Officer, Monica Defend, Head of Amundi Investment Institute & Chief Strategist, and Silvia Di Silvio, Senior Cross Asset Macro Strategist, Amundi Investment Institute explored likely economic outlooks and the implications for different asset classes in light of recent events in the Middle East and the resulting increase in market volatility.
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White papersMarket Commentary: Looking across the valley
If the Iran war does not derail it, the US economy should remain strong.
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White papersAsia ex-Japan outlook 2026: A tale of two markets
China and South Korea, two of Asia’s most dynamic markets, have fared very differently in 2026. In this three‑part video series, James Cook, Investment Director – Emerging Markets, outlines which sectors the Asia ex-Japan team think are poised to outperform this year, and how to navigate the risks ahead. Notwithstanding the recent Middle Eastern conflict-related EM sell-off, the team retains conviction in the potential for continued outperformance in 2026.
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White papersGalloping across the digital bridge: Rural Asia’s Fire Horse transformation
For years, the prevailing story about rural Asia was one of a stubborn digital divide; remote villages seemingly stuck far behind the glittering megacities. Today, that story is being rewritten, says Vikas Pershad, Portfolio Manager, Asia Pacific Equities. He reveals how, across Asia’s hinterlands, a digital bridge is rapidly connecting rural communities in ways few imagined possible.
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White papersFive themes shaping global real estate in 2026: European investors’ perspectives
European investors are navigating a more attractive entry point into global real estate as repricing stabilizes and capital markets gradually improve. Structural themes such as logistics demand, demographic shifts, and sustainability are expected to shape allocation decisions heading into 2026.
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White papersThere Will Be NO AI Jobs Apocalypse
Fears of a job apocalypse caused by AI tools are overstated. While there almost certainly will be disruptions to workers, they are likely to be focused on workers with discrete output — operation or work output that results in binary outcomes. Job losses in those segments could be sizable, in our opinion. However, we would expect that job losses in those areas would be replaced by job gains in other sectors.
