China-US tensions continue to shape global market narratives, yet allocator behaviour shows geopolitics remains secondary in capital decisions.
World
Temasek joins $8.4bn Clearwater Analytics takeover; Trian Fund Management and other global investors to drive $7.4bn Janus Henderson buyout; Japan's Amova to take full control of AHAM in $575m deal.
With total assets of over $60 trillion, state-owned investors are expanding their partnerships while some are expected to become sovereign asset managers in coming years.
Offshore wind is seen as a first-class investment opportunity that should provide over 10% New Zealand's future electricity needs.
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From AI-driven capex and service digitalisation to a weaker US dollar and stronger domestic markets, investors see emerging Asia, selective European value, and high‑quality franchises as the main winners in a fragmented global equity landscape.
The Dutch pension giant views New Zealand as a core market where it sees long‑term conviction and measurable environmental outcomes.
Following the UK's examination of Australia's superannuation system last year, the Trump administration is now signalling serious consideration of the mandatory savings model for US retirement savings.
AI investment themes for 2026 may centre on infrastructure enablers, upstream semiconductors, and strong Asian players, with regulatory and capital expenditure concentration as key risks.
In partnership with L&G Asset Management
Investors can no longer overlook the performance and influence of emerging markets (EM) in the global economy. After delivering robust returns in 2025 despite global volatility, selective parts of the EM debt universe deserve a bigger role in global allocations, say L&G’s Ben Bennett, head of investment strategy for Asia, and Uday Patnaik, head of Asia fixed income and global EM debt.
In partnership with L&G Asset Management
In a fluctuating and, frankly, precarious US macro environment, investors are rethinking where in the fixed income landscape to allocate. With diversification essential, we believe US securitised assets and subordinated bank debt offer key opportunities for asset allocators in Asia, say L&G’s Ben Bennett, head of investment strategy for Asia, and Jason Shoup, global co-head of fixed income.
As the year winds down, investors must balance optimism with caution, positioning portfolios for both festive cheer and potential lumps of coal.
The superannuation fund is joining forces with Macquarie Asset Management on a private equity strategy focused on businesses servicing infrastructure.
