A world re-ordered is creating new winners—and new risks. The strongest opportunities in 2026 will come from the sectors capturing real productivity gains while global fragmentation deepens. Discover our latest outlook.
We are in the midst of one of the largest productivity cycles in history. The path is likely to be rocky and returns uneven, but over time profits will follow productivity. Favor sectors and companies where profit realization is more immediate.
Selection is key in the AI productivity led boom: Prioritize proven productivity gainers over promises of future returns.
The equity opportunity is powerful but uneven, demanding a barbell approach: concentrated exposure to high-quality businesses positioned to benefit directly from AI-driven productivity, paired with maximal diversification to safeguard against markets that are becoming increasingly disrupted and bifurcated by AI innovation. In this cycle, the tide will not lift all boats.
Monetary Order is shifting and price stability is at greater risk as fiscal imbalances continue unchecked.
Real assets and nominal-proofing portfolios are indispensable as fiscal imbalances, inflation persistence, and electricity demand, drive the reshaping of the investment landscape.
Maximal diversification overlay on these areas where possibility of AI disruption is high, and outcomes more unknowable.
Outside the AI epicentre, productivity gains will diffuse more broadly than profits. meaning these companies may benefit from higher margins without undertaking the enormous capex outlays
