While Asia has demonstrated resilience to economic and geopolitical challenges, risks remain, and we expect economic growth and equity beta prospects to moderate as the region faces headwinds from slowing export growth and cooling consumption.
Within public equities, investors should modestly overweight global ex US equities, developed markets small-cap stocks, and Latin American equities in 2026, as these regions offer attractive valuations, improving growth prospects, and diversification benefits.
Blockchain and crypto-focused venture capital (BCVC) funds offer a compelling opportunity alongside traditional venture capital (VC) strategies. In this piece, we explore the market dynamics shaping cryptoassets, share our rationale for including BCVC in VC portfolios, and outline key considerations for integration into institutional portfolios.
This publication presents manager performance for 37 asset classes and substrategies, showing the median, mean, and key percentiles of return. Relevant indexes for each asset class are also included to provide market context.
Global equities advanced in Q3 as investors looked past peak tariff uncertainty, focusing on resilient economic activity and earnings growth, ongoing artificial intelligence developments, and a resumption of Federal Reserve rate cuts.
This publication presents manager performance for 37 asset classes and substrategies, showing the median, mean, and key percentiles of return. Relevant indexes for each asset class are also included to provide market context.
Yes. Current market expectations for the Federal Reserve to lower its policy rate by roughly 150 basis points by the end of next year are overly optimistic.
Once perceived as a US ally, India has recently been thrust into geopolitical crosshairs. Given the increased macro uncertainty, we would not overweight India at this time, particularly as equity valuations remain elevated despite the recent underperformance. Trade policies remain in flux, and there are measures that India can take to counter the near-term impact of tariffs. However, investors should monitor negotiations around India’s Russian oil imports, as these could have wider implications for the economy and market, especially the rupee.
Yes. In our view, developed markets ex US small-cap stocks are well positioned to continue outpacing their larger-cap counterparts due to three key factors: reduced sensitivity to global tariff changes, attractive relative valuations, and improving international economic fundamentals.
Equities advanced as peak tariff uncertainty appeared to wane, fixed income performance diverged among major regions, the US dollar broadly depreciated, and real assets mostly advanced.