Investment themes
Our key investment themes are designed to have long-term relevance and to identify continuing investment opportunities. Browse the latest reports published by our global Chief Investment Office (CIO).
Our latest reports
PERSPECTIVES Memo
Middle East escalation: energy transit risks & market volatility
The conflict has escalated with direct US-Israel strikes on Iran and regional retaliation. Risks to energy supply have increased significantly, as energy transportation through the Strait of Hormuz has been disrupted. Read more.
Mar 02, 2026
PERSPECTIVES Special
Alternatives: Private markets – the year ahead
In this PERSPECTIVES Special we look at the outlook for private markets. We consider recent developments supporting greater investor participation, the macroeconomic factors affecting investment allocation and our base case outlook and risks for 2026. Read more.
Feb 13, 2026
PERSPECTIVES Special
The global sports industry – Game on: unlocking investor value
The global sports industry has entered a new growth phase. We look at the reasons behind this growth, M&A activities and private investment, why regional differences matter for investors and the opportunities for further sports industry innovation.
Feb 06, 2026
PERSPECTIVES Special
Japan 2026 Outlook: Strategic reorientation amid policy normalisation and structural reforms
In this PERSPECTIVES Special we explore how Japan’s evolving geoeconomic strategy, innovation push, and corporate transformation are set to reshape the investment landscape in the years ahead.
Jan 22, 2026
PERSPECTIVES Memo
Greenland tensions: US announces new tariffs on European countries
US President Donald Trump announced on social media that the United States would implement a 10% tariff on eight European nations (Germany, France, the United Kingdom, the Netherlands, Norway, Sweden, Finland and Denmark) with effect from February 1, amid opposition to US intentions for Greenland. Read more.
Jan 19, 2026
PERSPECTIVES Memo
Risk event in Venezuela: No shift in our market outlook
Financial markets remain largely unaffected by the removal of Venezuela‘s President Maduro. Our positive market and economy outlook for 2026 also remains unchanged.
Jan 06, 2026
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