Viewpoints

After years of climate taking center stage in impact investing, the social side of the coin is starting to receive more investor attention. Find out what’s been driving the increased interest, and why the timing matters.

Los mercados han recuperado los máximos previos al conflicto. Las boutiques de Conviction Equities y Multi Asset comparten sus opiniones sobre por qué puede merecer la pena prestar atención a esta señal.

A first-year review of European Equity Income Plus: performance, income distribution and resilience across turbulent markets. We examine how the strategy’s three building blocks responded to sharp drawdowns, a V-shaped recovery and geopolitical shock as the fund enters its second year.

Los esfuerzos por la soberanía energética y la competitividad están impulsando la transición de un sistema basado en recursos finitos extraídos y precios volátiles hacia otro centrado en tecnologías generadas, cuyos costes disminuyen a medida que aumenta la producción. Invertir en todo el espectro con un enfoque activo brinda la oportunidad de acelerar la transición y participar en sus beneficios.

Las reformas de gobernanza de Corea abordan el «descuento coreano» mejorando la transparencia y los derechos de los accionistas minoritarios. Medidas como la cancelación obligatoria de acciones propias y una mayor independencia del consejo de administración buscan liberar valor corporativo e impulsar valoraciones más justas. Un paso fundamental hacia unos mercados más equitativos.

Los mercados actuales se parecen a la fábula de Esopo «El pastorcillo y el lobo», ya que muchos inversores se han acostumbrado a restar importancia a los riesgos tras años de caídas superficiales y efímeras y de rápidas recuperaciones impulsadas por las intervenciones de los bancos centrales. Creemos que esta complacencia ha dado lugar a valoraciones más elevadas y a una menor actitud defensiva, lo que ha generado mayor fragilidad estructural.

Equity markets have become concentrated in a handful of mega-cap stocks, leaving many high-quality small- and mid-cap (SMID) companies overlooked. But what does the combination of concentration, valuation, and structural megatrends mean for investors?

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.

La inteligencia artificial (IA) puede ser uno de los mayores avances tecnológicos, pero aún es pronto para saberlo. La historia demuestra que la rentabilidad de las inversiones no siempre se corresponde con el entusiasmo por la innovación. Sin embargo, sí sabemos que los fundamentos económicos no han cambiado, lo que implica que las inversiones deben autofinanciarse y ofrecer rendimientos adecuados para ser sostenibles.

Vontobel’s Ed Walczak is among a small number of portfolio managers active today who were also managing money during the dot-com bubble. Ed compares the two time periods and explains how having zero exposure in tech and telecom in the dot-com era, while unpopular, rewarded his investors.

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

Las acciones de mercados emergentes tuvieron un gran año, pero ¿eso significa que los inversores han perdido la oportunidad? Creemos que no. De hecho, consideramos que 2025 fue el primer año de cambio positivo en al menos dos factores estructurales clave, lo que podría marcar el inicio de un nuevo ciclo favorable para esta asset class.

Las materias primas generaron sólidos retornos en 2025, con una marcada dispersión entre ellas. En nuestro outlook trimestral, analizamos nuestra visión sobre los mercados de petróleo, metales, grano y, por supuesto, el destacado repunte de los metales preciosos. Descubra dónde vemos valor en un entorno de impulso macroeconómico e incertidumbre geopolítica.

With global markets navigating a complex and evolving landscape and at a time when corporate bonds have emerged as a cornerstone for resilient and diversified portfolios, Vontobel is proud to celebrate a decade of alpha generation for the Vontobel Fund – Global Corporate Bond, which passed its 10th anniversary in October 2025.

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.

The turbulence and uncertainty that defined stock markets in 2025 kept investors on their toes. 2026 offers grounds for optimism.

AI is expanding what systematic investing can achieve — from unlocking deeper insights in complex data to building more adaptive, responsive portfolios. This piece explores the shift from classical quant to Quant 2.0 and what a more adaptive, data-driven future could look like.

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.

El equipo de Income analizó la rentabilidad del índice Euro Stoxx 50 Buy Write, una sencilla estrategia de opciones cubiertas, a lo largo de 25 años. El artículo muestra cómo se comportaron los diferentes factores de rentabilidad a lo largo de los ciclos y proporciona un contexto para los patrones de ingresos a largo plazo dentro de las estrategias de ingresos de renta variable europea.

Discover how developed and emerging market corporate bonds may offer stability, diversification, and alpha opportunities. With yields at multi-year highs and improving fundamentals, our experts believe now is the time to unlock the hidden potential of corporate bonds in your portfolio.

Behind every commodity price lies a hidden driver: the roll return. Whether in contango or backwardation, it can transform gains into losses—or the reverse. Discover how understanding futures curve dynamics empowers smarter, more resilient commodity investing.

AI models don’t have to be black boxes. In the final article of our Expl(AI)ning series, discover how SHAP values reveal the contributions behind model predictions, enhancing transparency and trust in AI-powered investing. See how we use these insights within our AI Powered process.

Rising concentration in the S&P 500 has made markets more sensitive to a handful of mega-cap stocks driving performance. While technology remains dominant, this imbalance raises questions around volatility, diversification, and market resilience. The Solutions team explores how concentration has evolved and what it means for investors navigating today’s equity landscape.