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 Research: All in play as the corporate sector enters the AI era
The Global Research Team argues that the next few years should prove AI is more than a tech story as companies across sectors seek to leverage its potential for efficiency gains.
U.S. midcaps in 2026: Managing risk around industry concentrations
Brian Demain discusses why he believes it’s important to stay focused on diversification and business-model quality heading into 2026.
U.S. Large-cap growth in 2026: Due for a reshuffling?
Brian Recht explores how AI is moving from blanket enthusiasm to competitive differentiation and why extreme market concentration creates opportunities in overlooked segments.
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.
Emerging markets hard currency debt stays in the spotlight for 2026
Attractive yield and fundamental diversification makes emerging markets hard currency debt a compelling opportunity for 2026.
Navigating supply surges: How AI is reshaping global investment grade credit
Surging supply from AI-driven tech giants is reshaping investment grade credit. Explore what this means for spreads, sector shifts, and investor strategies in 2026.
High yield bonds outlook: Increasing selectivity in 2026
Modest economic growth should support high yield bonds but rich valuations demand selectivity.
Alternatives
Risk-transfer markets signal “all is calm” – for now
Signals embedded in forward-looking options markets indicate a relatively sanguine 2026 for both equities and fixed income.
Diversified alternatives: Why you need a ‘Plan B’ in 2026
Investors need a new playbook for a period of potentially significant geopolitical and economic change
Absolute return: Building resilience in volatile markets
Why absolute return strategies are set to play a pivotal role in 2026, offering diversification and resilience to offset uncertainty and evolving market dynamics.
Featured Insights
There is no guarantee that past trends will continue, or forecasts will be realised.