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.
Still early innings in the AI investment cycle
Three years after the launch of ChatGPT, we are still in the early innings of the AI revolution, with most of the technology’s economic gains yet to be realized, says Denny Fish.
Why healthcare stocks could excel in 2026
Andy Acker and Dan Lyons explain why low valuations and improving fundamentals could help the healthcare sector stand out in 2026.
U.S. large caps: Capital investment and productivity appear set to drive growth in 2026
In his 2026 outlook, Jeremiah Buckley discusses how AI infrastructure spending and productivity gains could help support continued economic and earnings growth.
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.
Short-duration fixed income: Sizing up risks across global bond curves
Daniel Siluk and Addison Maier argue that already elevated inflation coupled with fiscal stimulus should compel bond investors to assess risks along all points of the yield curve.
Multi-sector fixed income: Bullish on spread carry
John Lloyd shares why he believes multi-sector fixed income is poised for continued strong performance in his 2026 investment outlook.
U.S. securitized: Finding opportunities in AI, and elsewhere, as a new era dawns
John Kerschner discusses how macroeconomic themes are impacting securitized markets and where he sees opportunities in his 2026 outlook.
Panel discussion
Our experts from across the asset classes discuss their views on the route ahead and how to position accordingly.
5 December 2025
There is no guarantee that past trends will continue, or forecasts will be realised.