Research and Commentary

As we enter the second quarter of 2026, geopolitical conditions have shifted meaningfully since our last quarterly review.

We believe the energy supply shocks of the 2020s will ultimately prove no less revolutionary for financial markets than their 50-year-old cousins did. Much like the First and Second World Wars culminated in the localization of steel production, over the next two decades, we believe that the shocks of the 2020s will accelerate the use of alternative energy sources for economically critical energy needs.

Drawing on regime analysis, holdings overlap studies, turnover data, and comparative portfolio scenarios, we show that incorporating a core component delivers comparable or superior risk-adjusted returns while reducing costs, simplifying oversight, and providing the flexibility to allocate across the full valuation spectrum within a single mandate.

In the wake of a particularly robust year for fixed income returns across sectors—with notably little differentiation between them—it is instructive to examine return patterns over the prior decade.

After a historic year of outperformance, what’s next for Latin American markets in 2026? Will these traditional “hot money” markets give back their gains or is this a turning point for these former investor darlings turned market minnows?

From Technology Giants to Industrial Titans, Big Tech is transitioning from a world of capital-light economics to one defined by physical scale, infrastructure intensity, and resource constraints