A strategic asset allocation for the next decade

2026-06-25

Samuel Pittman

Head of Strategic Asset Allocation

Paul Eitelman, CFA

Global Chief Investment Strategist

Van Luu, Ph.D.

Global Head of Solutions Strategy – FI and FX

Amneet Singh

Director, Asset Allocation Strategy

Positioning portfolios for structural shifts shaping markets, diversification, inflation, and future investment opportunities.

Key takeaways:

Market regimes change, and asset allocation must evolve with them. The past 50 years show that shifts in inflation, policy, and growth dynamics can reshape correlations, world leadership, and return drivers.
Structural forces are redefining the investment landscape. Artificial intelligence, a more multipolar world, climate pressures, rising government debt, and the expansion of private markets are likely to shape the next regime.
Portfolios may need broader diversification and new return drivers. We see a stronger case for private markets, inflation protection, global diversification across equities and fixed income, and selective alternative stores of value.

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