All Risk Management articles
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White papersWhere Conviction Meets Selection: Finding Value in a Market of Diverging Real Estate Outcomes
A perspective on why investment selection, not broad sector exposure, may define the next phase of alternative real estate investing.
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White papersThe New Era of Income Investing
How to design income portfolios beyond traditional stocks and bonds.
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White papersInvestment View for Q4: Liquidity is confidence
‘Investment View’ provides our quarterly macro & market outlook and investment recommendations
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White papersThe USD bear case faces a monetary-policy test
We entered 2026 expecting expensive valuations and Fed easing, alongside an administration increasingly focused on limiting the cost of financing a deteriorating fiscal position. Together, these conditions were expected to gradually normalise the USD.
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White papersThe road ahead for central banks
In a low-trust world that is becoming increasingly predatory, investors should expect supply shocks to become a new norm and the distribution of economic gains to stay uneven. Another result of the global order fragmenting is the rise of fiercer competition between countries. However, this competition is no longer limited to trade, tech, industrial leadership or energy security; it is instead being shaped by a relentless search for capital at the public and private level.
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White papersHealthy Labor Market in the Face of AI
Despite ongoing concerns around inflation, tariffs, geopolitical tensions and AI-related disruption, the U.S. labor market remains more resilient than many expected. Our latest Macro Strategy outlook explores several underappreciated trends shaping employment today and what they could mean for growth, inflation and markets going forward.
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VideoConnecting the Dots: A Holistic Approach for Insurers
For insurance investors, a holistic approach to asset allocation is more important than ever.
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White papersRelative Value & Tactical Asset Allocation Q4 2026
Resilient growth, persistent inflation, evolving monetary policy, and geopolitical uncertainty are expected to shape markets heading into 2027. AI-related investment remains an important growth driver, while rate volatility may create opportunities for selective investors.
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White papersHome is not a guaranteed hedge
Having spent more than two decades in asset management and private wealth, I have watched investors become more nuanced in the way they think about risk. What once appeared prudent can start to look less safe when the world changes around it. Today, that is increasingly true of portfolios that remain concentrated close to home.
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White papersRethinking emerging markets: diversification and growth opportunities in equities and fixed income
Growing global uncertainty around company valuations, monetary policy and business cycles is prompting investors to rethink their asset-allocation strategies – and emerging markets (EM) are ideally placed to benefit. Across EM, a number of factors are combining to create compelling diversification opportunities in both equities and fixed income.
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White papersWhat unicorns reveal about future investment risk
Private market investments are now a mainstay of institutional portfolios. Yet while allocations have grown, the information available to investors has not kept pace.
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White papersSystematic fixed income: Bringing diversification benefits to credit portfolios
Systematic credit is still a small part of fixed income, but its portfolio role is growing. For credit allocators, it can offer a disciplined and differentiated source of diversification.
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White papersA differentiated approach to EM debt
Emerging markets (EM) debt offers a broad and differentiated opportunity set, with sources of risk and return that are underrepresented in a typical asset allocation mix. The asset class spans a wide variety of instruments from countries at vastly different stages of economic and political development.
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White papersPositioning portfolios for higher long-term interest rates
Whether long-term interest rates will remain above their post pandemic high is an open question. The 10-year Treasury rate hit highs of 4.98% in October 2023 and 4.77% in January 2025. For those concerned about duration exposures and the valuation impact of higher rates on financial assets in general, real estate credit may offer a useful tool for managing this exposure.
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VideoNAV Loans: From Fund Finance to Investment Opportunity
Net asset value (NAV) loans may offer solutions for private equity and benefits for insurers.
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White papersOn the Cutting Hedge: Generating Alpha While Managing Risk in the Current Regime
As volatility, correlations, market concentration and geopolitical risk have all risen, asset allocators are increasingly turning to hedge funds for strategic diversification.
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White papersThe ECB raises policy rates
“The ECB opens a period of central bank meetings. The balance is shifting further towards the risk that inflation proves more persistent than expected, given the recent rise in energy prices amid geopolitical tensions.”
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White papersResearch spotlight on AI
As the artificial intelligence (Al) boom reshapes many parts of the investment landscape, it features prominently in many aspects of our ongoing research. Below, we showcase some of our latest Al-related thinking.
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BlogA warming planet hits our economy harder than a blocked strait
Tensions around the Strait of Hormuz dominate headlines, particularly the economic impact. European Commission (EC) analysis forecasts oil and gas prices will still be 20% higher by the end of 2027.
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White papersBond yields on the rise again
“Bond markets are under pressure now, but as yields rise, opportunities for investors to benefit from higher income are opening.”
