All Multi-Asset articles
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White papersA Growth Mindset
For more than two years, inflation news was the prime mover of market prices; we think last week confirmed that a new dynamic is in play.
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White papersEvolving diversification: New asset allocation approaches for insurers
An overview of opportunities and challenges that exist for insurers
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White papersTariffs take centre stage
“Diversification* and a balanced approach are now more important than ever, as the news on tariffs, negotiations, and retaliations will keep markets volatile”
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White papersNavigating tariffs: February macro and asset class views
We reiterate our positive view on stocks and bonds. Earnings are coming in healthily, growth is solid, inflation is still trending lower, and global central banks continue to ease policy. We like to keep it simple.
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White papersGlobal Investment Views - February 2025
Markets: a tug of war between inflation fears and optimism
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White papersA Choppy Start to a Year of Uncertainties
The first two weeks of 2025 perfectly illustrate why we see a wide dispersion of potential outcomes for the year, and advocate staying nimble and diversified.
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White papersIn the Balance
We think easing inflation and a pro-business policy environment will support above-trend growth in 2025, but the balance is delicate with risks piled up on both sides.
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White papersDC and Bonds: The End of the Affair…and a New Beginning
Bonds’ traditional role in pension allocations is over. But they have a new purpose in a lifetime income strategy.
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White papersAfter two strong years, what will 2025 bring?
“2025 will continue to offer opportunities and investors will need to assess the impact of Trump’s policies.”
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White papersGlobal Investment Views - January 2025
A semblance of a goldilocks ahead of Trump’s inauguration
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PodcastSolving for 2025
Looking for insights on the key themes poised to shape the financial markets in the coming year? Hear from Anu Rajakumar, Erik Knutzen, Co-Chief Investment Officer of Multi-Asset, and Shannon Saccocia, Chief Investment Officer of Private Wealth, as they discuss pivotal macroeconomic and capital markets observations from our annual outlook, “Solving for 2025”, where they evaluate the forces that may shape portfolios in the coming year.
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White papers2025 Perspectives: Optimism through the obstacles
2025 arrives on the heels of remarkable resilience in global markets. However, investors face a world still shaped by uncertainty—from deglobalization and slowing growth in developed economies to resilient U.S. equities, elevated policy risks under the incoming Trump administration’s tariff threats, and persistent inflationary pressures in the U.S. In 2025 Perspectives, our leading investment experts highlight the themes that will impact portfolios and drive market performance in the year ahead.
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White papersAll eyes on China
“While the change in China’s policy stance is a significant development, we believe the market’s focus will shift increasingly towards the execution of these policies.”
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White papersClosing Bell 2024 : ‘Immaculate disinflation’ and the ‘Magnificent Seven’
2024 was another good year for tech stocks and equities overall
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White papersConsolidate with caution – Too much focus on scale could come at the expense of innovation
Last month, in an attempt to boost the UK’s growth trajectory, Rachel Reeves unveiled what she claimed was the “biggest pension reform in decades”. She reckons the UK has been regulating for risk, but not regulating for growth – a view many in the industry would agree with.
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White papersGlobal Investment Views - December 2024
A resilient US economy, the anticipation and eventual victory of Donald Trump and his recent appointments along with risks around inflation have been driving nominal and real yields over the past months. But US equities and the dollar rose amid a belief that the US economy would benefit from Trump’s policies at the expense of the rest of the world, i.e., Europe and some Asian countries.
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White papersConsumer confidence sparks Black Friday
In November, US consumer confidence hit its highest point in over a year. Notably, expectations for the next six months (as shown in the chart) are at their highest level in nearly three years, which is promising for the upcoming holiday season. The increase in political discussions among survey participants indicates that the political climate following Donald Trump’s election may have influenced consumer attitudes.
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White papersGold and geopolitics
“Gold prices may fluctuate in the short term, but metal is expected to potentially provide stability, over the medium term, as a result of geopolitical tensions and deteriorating government finances.”
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White papersLifestyling: the Achilles heel in DC pensions
Why too much derisking – the accepted orthodoxy in UK defined contribution pensions – is a bad thing
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White papersSpotting opportunities in a reconfigured world
Halfway through the decade, new forces are reconfiguring the post-pandemic global economy. The big shocks that hit labour markets, supply chains, and energy prices in the past five years have largely worked their way through the system. But geopolitics and national policy choices are creating a more fragmented world that may bring new surprises.
