Insights
The Investment OutlookThe Investment Outlook 2026 - Introduction
Discover how global transformation and resilient growth will shape 2026. Where are the new opportunities and how can you future-proof your portfolio? Read our latest insights.
Author
Peter Branner
Chief Investment Officer
Part of
The Investment Outlook
Duration: 2 Mins
Date: 13 Nov 2025
Welcome to our latest Investment Outlook. As we look towards 2026, it is increasingly clear that transformation—not continuity—is shaping the investment environment.
Geopolitical risk has become a structural feature of markets, with economic fragmentation and shifting trade patterns challenging long-held assumptions. Our core message remains: prioritise diversification. Yet, even amid uncertainty, opportunities continue to emerge.
Global growth remains resilient, supported by fiscal stimulus and a pivot towards infrastructure and related investments. Our latest House View identifies three enduring themes:
- a position in emerging market equities
- selective exposure to government bonds
- infrastructure as a driver of long-term returns.
These strategies reflect a world in which diversification and adaptability are essential.
In recent months, concerns have grown among investors and central banks regarding elevated asset prices - particularly the record valuations of some major tech companies.
While we do not take a definitive stance on this matter, we do believe that credible alternatives are becoming increasingly attractive for long-term investors.
For example, emerging market equities stand out as a source of technological innovation and portfolio diversification. They could outperform amid currency tailwinds, renewed capital expenditure and attractive valuations.
Meanwhile, emerging market debt offers investors compelling yields, supported by monetary easing and improved corporate and economic fundamentals.
Real estate is evolving beyond traditional sectors. You should consider how resilience - through industrial assets, affordable housing and data centres - can future-proof your portfolio.
We have consistently highlighted infrastructure as a long-term theme. Transport networks, electrification and digitalisation are reshaping mobility and sustainability, creating scalable opportunities for private capital.
In short, the coming year calls for a forward-looking approach - one that embraces structural shifts, integrates resilience into portfolio construction and seeks growth beyond the familiar.
Please read our articles for further details as we aim to help you navigate complexity and capture opportunities in a changing global landscape.
As ever, I hope you enjoy our insights.
