All Commentary articles – Page 6
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White papersInfrastructure equity Q&A: Uniting innovation and rigour
Angenika Kunne outlines Aviva Investors’ infrastructure equity strategy and the key themes driving origination, management and value creation.
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White papersInvesting Amid the Chaos
Political noise can become deafening, but investors should tune into the quieter drumbeat of strengthening economic fundamentals and the broadening-out story reshaping equity markets.
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White papersWhen the old rules no longer apply: Rory Stewart on geopolitics, markets and the risks investors are underpricing
The following reflections draw on a recent conversation between Rory Stewart, British author, academic and former diplomat and politician, and Barry Gill, Head of Investments, UBS Asset Management, held shortly after the World Economic Forum in Davos. Their discussion, the first in a series of external expert perspectives, ranged across geopolitics, markets and technology. An overarching concern emerged: many of the risks now reshaping the global landscape are not cyclical, but structural – and consistently underappreciated.
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VideoInnovation in late-stage private markets
Matt Witheiler, head of Late-stage Growth, highlights potential areas of innovation and hype in late-stage private markets, diving into AI’s impact on enterprise budgets and the evolving landscape of defense tech.
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VideoPrivate biotech innovation versus hype
Nilesh Kumar, Head of Biotech Private Investments, explores innovation in obesity, autoimmunity, and oncology, emphasizing drugs that solve real-world unmet medical needs.
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White papersWhy and Where to Invest in European Real Estate
As 2026 has started, we provide a reminder and update on the reasons for investing into European real estate and identify the specific markets where we believe the best risk-adjusted returns can be expected.
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White papersIndia and EU trade deal: a look beyond financial benefits
On 27 January 2026, the European Union and India have formally concluded negotiations on a landmark free trade agreement (FTA), marking a major milestone nearly two decades in the making. Legal vetting—or “textual scrubbing”—is now underway, with both sides aiming to complete the process and sign the agreement within five to six months. Once ratified, the deal is expected to enter into force in early 2027.
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White papersA blockbuster, but skewed, tax refund season
Tax refunds are coming in strong, but unevenly distributed — shaping consumer spending patterns and near-term economic momentum.
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White papersBack to the Future (Again)
Dickens is likely the first and almost certainly the most famous commentator to employ the K-shape analogy to describe the world as he saw it—the best of times and the worst of times.
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White papersWinners and Losers at the All-K Corral
Economic growth through the third quarter of 2025 came in above expectations and will likely end the year on a strong note. At the same time, the K-shaped economy is more present than ever: even outside the consumer. Most of our recent productivity gains have been concentrated in the information sector while others remain stagnant. Services industries continue to grow, but manufacturing has been in contraction for 34 out of the last 36 months. Large firms are also seeing strong profits, but small firms continue to struggle.
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White papersGlobal equities forge ahead
Global equities posted strong gains in 2025, with non-U.S. developed and emerging markets outperforming the S&P 500 Index for the first calendar year since 2006. As we enter 2026, modest economic growth, gradually declining interest rates, and positive earnings momentum may provide support for equity markets, though elevated valuations and potential volatility warrant careful consideration. Our latest analysis explores how investors might balance growth-oriented holdings with allocations to global infrastructure and dividend-growing companies as they seek portfolio resilience and stable income potential. Read the full analysis.
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White papersJanuary 2026 FOMC meeting: Policy rates on hold, nothing to see here
The Fed keeps rates unchanged, signaling patience as inflation cools and growth remains resilient.
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White papersThe Fed’s pause highlights value of diversification
The U.S. Federal Reserve paused rate cuts after three consecutive reductions, citing stronger labor data and consumer spending. With an upgraded 2.0% growth forecast for 2026, elevated market valuations, and a slower pace of Fed rate cuts, investors may benefit from portfolio diversification. Our latest analysis explores potential opportunities across dividend-growing equities, senior loans, and alternative assets like farmland as investors seek to balance risk and return objectives in this evolving environment. Read the full analysis.
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White papersPrivate capital in 2026: Foundations for a changing market
Lower financing costs, improving buyer-seller alignment, and pressure on sponsors to transact may create conditions for greater private capital deal activity in 2026. However, recent experience has reinforced the challenges of forecasting market outcomes. Our latest analysis focuses on four enduring investment principles that may matter regardless of how the macro environment evolves: maintaining disciplined underwriting standards, identifying less crowded market segments, prioritizing flexible capital solutions, and navigating increasing performance dispersion across managers. Read more.
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White papersHow US midterm elections affect the markets
With everything happening in the world — from the US push to annex Greenland, to new tariffs against Europe, to military intervention in Venezuela — investors may not be focused on the US midterm elections just yet. But this pivotal contest is just 10 months away, and the campaign starts in earnest next month when President Donald Trump delivers the State of the Union Address.
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White papersGeopolitics, tariffs and market volatility
Markets were volatile in the past few days following a weekend escalation centred on President Trump’s threats to impose additional tariffs on eight NATO members unless the US was allowed to purchase Greenland from Denmark.
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White papersFrom hazard to value: turning climate science into financial insights
Climate risk is now a strategic priority: Climate risk is shifting from a peripheral concern to a core strategic priority. Volatile extreme weather, tightening regulation, and rising scrutiny around resilience are reshaping investment expectations.
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White papersPrivate markets demand can help to pave the long road to net zero
If allocating to private infrastructure stands to offer both ballast and buoyancy, then what’s behind this? In this article, IFM’s Andrea Mody looks at the global megatrends that are creating powerful tailwinds for the asset class, and driving interest in infrastructure among long-term investors.
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White papersUnlocking natural capital value
Institutional investors seeking resilient, future‑ready portfolios are turning to timberland and farmland—strategic assets that combine climate resilience, biodiversity, and long‑term value creation.
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White papersForests as a strategic investment
Wood is an important economic resource. Due to the growing middle class worldwide, there is increasing structural demand for wood. In this context, forests are becoming an attractive investment, ensuring long-term strategic access to wood in times of geopolitical uncertainty.
