Multi Asset Boutique

Los inversores están a la espera ante los numerosos factores que intervienen en la guerra de Oriente Medio. Nuestra Boutique Multi Asset comparte sus opiniones en el último 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.

Ha habido una intensa volatilidad bajo las tensiones geopolíticas en escalada y el temor cada vez mayor a los efectos disruptivos de la IA, aunque puede que no venga mal cierta poda en los mercados. La última edición de Investors’ Outlook analiza los últimos acontecimientos y los pone en contexto.

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.

El comienzo del año ha sido especialmente movido. Los titulares geopolíticos han marcado el tono, contribuyendo a la bajada del dólar y a la subida del oro. Pero ¿qué más podría aguardar a los inversores este año? Averígüelo en el primer Investors’ Outlook de 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

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.

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.

Al cerrar el último capítulo del año, la prudencia y la consolidación han sido la tónica dominante en los mercados. ¿Qué factores configuran el escenario de lo que podría esperar a los mercados en 2026? Descúbralo en la última edición de 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.