Will the Iran Conflict Trigger a Pandemic-Style Inflation Spike?
No, we do not think this is the likely outcome. While the path forward is highly uncertain, several key factors suggest that a repeat of pandemic-era inflation is unlikely.
Equities
US Manager Universe Statistics: Fourth Quarter 2025
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.
Review of Market Performance: Calendar Year 2025
Global economic growth hovered near trend in 2025. The dollar weakened sharply, while global equities and commodities posted strong gains. Bond returns improved as rates and credit spreads eased.
Japanese Election Result Should Boost the Economy and Ultimately the Japanese Yen
Overall, we see the election outcome as positive for the Japanese economy and, by extension, the yen.
VantagePoint: Asian Equities Revisited
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.
2026 Outlook: Public Equity Views
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.
Unlocking Innovation with Blockchain and Crypto Venture Capital Funds
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.
US Manager Universe Statistics: Third Quarter 2025
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.
Market Matters: September 30, 2025
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.
US Manager Universe Statistics: Second Quarter 2025
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.