Market GPS
Portfolio manager outlooks 2026
Investment team insights to help you navigate the risks and opportunities ahead. Explore asset class overviews and more focused outlooks from our portfolio manager experts.
Equities
Featured Outlook
Positioning portfolios for a transformative era
In their 2026 outlook, Lucas Klein and Marc Pinto discuss how AI and structural reforms, especially in Europe, present opportunities for selective investors.
Global smaller companies: primed to outgrow the giants in 2026
From underdogs to potential frontrunners: are small caps ready for a resurgence in 2026?
European equities: Strategic reforms set the stage for growth
Can European equities grow in 2026, fuelled by reforms, improved trade conditions, and a broadening macroeconomic rebound?
Fixed Income
Featured Outlook
Building resilience in 2026
Alex Veroude explains why the credit cycle in fixed income still has further to run in 2026 but why investors should build some resilience into their portfolios.
Why private credit’s asset-backed finance is coming of age
Private credit is expanding rapidly – and asset-backed finance (ABF) is leading its next phase. In 2026, we believe the winners will be defined by transparency, data precision, and disciplined execution.
Alternatives
Featured Insights
Panel discussion
Our experts from across the asset classes discuss their views on the route ahead and how to position accordingly.
3 December 2025
There is no guarantee that past trends will continue, or forecasts will be realised.