Multi Asset Boutique

Investors are in wait-and-see mode as they face many moving pieces in the Middle East war. The Multi Asset Boutique shares its views in the latest Investors’ Outlook.

Railroads play a critical role in facilitating the efficient movement of goods and essential commodities in North America. Over the last thirty years, railroads have evolved from heavily regulated businesses with returns at or below their cost of capital into lightly regulated and capital-efficient networks distinguished by infrastructure that is difficult to replicate. This article discusses the investment merits of listed railroads and examines how the recent industry dynamics will impact future growth.

There has been no shortage of volatility amid escalating geopolitical tensions and growing AI disruption fears, but a little market pruning can be healthy. The latest Investors’ Outlook sifts through the recent developments and puts them into perspective.

The geopolitical risk premium has transitioned from being a mere possibility to a present reality. Here is our perspective on the evolving situation in the Middle East.

It has been a roaring start to the new year as geopolitical headlines turned the volume up, contributing to a weaker US dollar and a surge in gold. But what else may await investors as the year unfolds? Find out in the first Investors’ Outlook of 2026.

Two mantras exist among investors when it comes to equity factors. First, you hear that “factors tend to outperform the broader market in the long run”. True. Second, you hear that “timing factors is almost impossible, and that you would be better off with a static allocation”. False. In fact, dynamic timing approaches to factor premia management adds significant benefits over static allocation approaches and in this piece, we show you why

Commodities delivered strong returns in 2025 with the significant dispersion across commodities. In our quarterly commodity outlook, we discuss our view of oil markets, metals, grains and of course the all shining precious metal rally. Find out where we see value in an environment of macroeconomic tailwind and geopolitical uncertainty.

The 2026 Large Language Models Outlook examines the current state of artificial intelligence as it relates to LLMs, highlighting diversity, specialization, and global competition. Learn how open- and closed-weight models, regulatory approaches, and strategic deployment are shaping industries today, from finance to mathematics, and explore the trends likely to define AI’s trajectory in the year ahead.

While AI drew the most attention again this year, other secular drivers such as asset renewal, energy security, decarbonization, and data growth are fueling durable investment cycles. These themes support long‑term opportunities across sectors, reinforcing infrastructure’s potential for sustained growth and stability.

As we approach 2026, high equity valuations, shifting inflation dynamics, and rising cross-asset dispersion are reshaping the investment landscape. With traditional portfolio strategies like the 60/40 model facing new challenges, diversification is becoming a practical necessity. The Solutions team explores how these structural shifts are driving the return of the multi-asset cycle and what it means for investors navigating this new market regime.

As we turned to the final page of the year, markets experienced a combination of caution and consolidation. What are the factors setting the type for what might await markets in 2026? Find out in the latest Investors’ Outlook.

Government bonds are primarily driven by moves in their underlying interest rates – and these rates are highly correlated. In this QuantaByte, we show how correlated interest rates really are, and what conclusions an investor can draw to tackle this problem.