Insights
The Investment OutlookA CIO’s guide to 2026
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 1 of
The Investment Outlook
Duration: 2 Mins
Date: Nov 13, 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: to prioritize diversification.1 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. And 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.
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.
Endnotes
1 Diversification does not ensure a profit or protect against a loss in a declining market.
Important information
Projections are offered as opinion and are not reflective of potential performance. Projections are not guaranteed and actual events or results may differ materially.
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