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.

Markets have bounced back to pre-conflict highs. The Conviction Equities and Multi Asset boutiques share their views on why this signal may be worth paying attention to.

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.

La souveraineté énergétique et la compétitivité favorisent la transition d’un système fondé sur des ressources limitées, extraites et aux prix volatils, vers un modèle axé sur des technologies de génération dont les coûts diminuent avec l’augmentation des volumes. Investir activement dans l’ensemble du spectre offre l’opportunité d’accélérer la transition et d’en partager les bénéfices.

Les réformes de la gouvernance en Corée s’attaquent à la « décote coréenne » en renforçant la transparence et les droits des actionnaires minoritaires. L’annulation obligatoire des actions propres et une plus grande indépendance du conseil visent à libérer la valeur des entreprises et favoriser une valorisation plus juste. Une étape décisive vers des marchés plus équitables.

Markets today resemble Aesop’s fable The Boy Who Cried Wolf, with many investors conditioned to dismiss risks after years of shallow, short-lived downturns and swift recoveries fueled by central bank interventions. We believe this complacency has led to higher valuations and reduced defensiveness, creating structural fragility.

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?

Les chemins de fer jouent un rôle essentiel dans l'acheminement efficace du fret et des matières premières à travers l'Amérique du Nord. Depuis trente ans, ces acteurs ont évolué : autrefois lourdement encadrés, avec des profits égaux ou inférieurs à leur coût du capital, ils exploitent désormais des réseaux peu régulés et à forte rentabilité capitalistique. Leur atout : une infrastructure quasi impossible à reproduire. Cet article évalue l'intérêt d'investir dans les compagnies ferroviaires cotées. Il montre en quoi les mutations du secteur façonneront sa croissance future.

Artificial intelligence (AI) may be one of the greatest technological breakthroughs, but it’s too early to tell. History shows that investment returns don’t always match innovation hype. However, we do know that economic fundamentals have not changed, which means that investments must become self-financing and deliver adequate returns to be sustainable.

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

Les actions des marchés émergents ont connu une année remarquable, mais les investisseurs sont-ils passés à côté de l’opportunité ? Nous ne le pensons pas. En effet, nous considérons que 2025 a marqué la première année de changements positifs pour au moins deux facteurs structurels clés, ouvrant la voie à un nouveau cycle haussier pour les actions des marchés émergents.

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.

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.

Si l'IA a de nouveau retenu toute l'attention cette année, d'autres facteurs structurels tels que le renouvellement des actifs, la sécurité énergétique, la décarbonisation et la croissance des données alimentent des cycles d'investissement durables. Ces thèmes soutiennent les opportunités à long terme dans tous les secteurs, renforçant le potentiel de croissance et de stabilité durables des infrastructures.

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.

La turbulence et l’incertitude qui ont marqué les marchés boursiers en 2025 ont tenu les investisseurs en alerte. 2026 laisse entrevoir des motifs d’optimiste.

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.

L’équipe Income a analysé la performance de l’indice Euro Stoxx 50 Buy Write, une stratégie simple de vente d’options d’achat couvertes, sur 25 ans. L’article montre comment les composantes de rendement évoluent au fil des cycles et éclaire les schémas de rendement à long terme des stratégies actions européennes axées sur le revenu.

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.