Strategic asset allocation

Ian Spencer

event February 2025

6 min

Article

2026-02-28

Liquid alternatives & hedge funds Macro and market Multi-asset DB Public Program iStrat Strategic allocation Risk management Top of Mind Article

The allocator’s checklist for 2025 and beyond

Head of Multi-Asset Strategy Adam Berger offers near- and longer-term ideas for allocators, including thoughts on alternatives, potential market surprises, and risk management.

By

event January 2025

15 min

Article

2026-01-30

Liability-driven investing Multi-asset Strategic allocation DB Private Program iStrat Private pension (DB) Article

LDI in 2025: Ten questions corporate plan sponsors are asking

Members of our LDI Team address a range of topics that US corporate plans will be thinking about this year, from pension funding and accounting issues to portfolio diversification opportunities.

By

Ryan Randolph

event January 2025

12 min

Article

2026-01-31

Hedge funds Macro and market Strategic allocation Content CoE Program Global Program iStrat Long-short Macro hedge funds Liquid alternatives & hedge funds Manager selection Outlook Article

Three performance drivers could help hedge funds rev up returns

Alex King and Adam Berger, members of our Investment Strategy & Solutions Group, explain why we're at a turning point for economic and market conditions that could benefit hedge funds and make them a potentially valuable addition to a multi-asset portfolio.

By

event January 2025

6 min

Article

2025-12-31

Nature background of dreamy, fairy tale and beautiful jungle forest pedestrian footpath alley way place for walking in tunnel of old oak green trees light up with sun rays trough grass at sunset on spring day

Hedge funds Macro and market Strategic allocation Alternatives Hedge Funds Program Manager selection Whitepaper iStrat

“Goldilocks” and the three drivers of hedge fund outperformance

Members of our Investment Strategy & Solutions Group explain why shifting economic conditions may bode well for hedge funds broadly but also see reasons that manager selection may be more important than ever.

By

Elisabeth Perenick, FSA, CFA

event November 2024

15 min

Whitepaper

2026-11-30

Liability-driven investing Strategic allocation Regulatory DB Private Program Multi-asset Whitepaper iStrat

Setting ROAs for 2025: A guide for US corporate and public plans

How are pension plans adjusting their ROA assumptions? And how do those assumptions line up with our long-term capital market assumptions? Find out in this annual update.

Multiple authors

event November 2024

16 min

Whitepaper

2025-11-30

Private investing iStrat Strategic allocation Private pension (DB) Article Private credit Americas Liability-driven investing DB Private Program

Private placements: A primer for corporate DB plans preparing to derisk

With many corporate DB plans exploring derisking opportunities, Portfolio Manager Elisabeth Perenick and Multi-Asset Strategist Amy Trainor discuss the potential role that private investment-grade credit, or private placements, could play and consider common questions about liquidity and allocation sizing.

By

event August 2024

9 min

Article

2025-08-31

Fixed income Liability-driven investing Asset allocation DB Private Program Private pension (DB) Strategic allocation Whitepaper iStrat

The evolution of derisking: Assessing new and time-tested liability-hedging ideas

As defined benefit plans contemplate the best path to their eventual “end state,” members of our LDI team update their liability-hedging research with a blend of traditional benchmark ideas and new opportunities to capitalize on changing market conditions and a broader investment universe.

By

Jacqueline Yang, CFA

event July 2024

22 min

Whitepaper

2026-06-30

Liquid alternatives & hedge funds Alternatives investing iStrat program Strategic allocation Multi-strat hedge funds iStrat Article

Can hedge funds play the role?

How should investors select the most suitable types of hedge funds for specific roles? Members of our Investment Strategy & Solutions Group offer a simple and intuitive framework that can help.

Multiple authors

event April 2024

11 min

Article

2025-03-31

Manager selection Climate Sustainable investing iStrat program Strategic allocation Active management Equity Fixed income Multi-asset Liquid alternatives & hedge funds Article iStrat Tactical allocation

Picking the right building blocks for a climate-aware portfolio

For asset owners integrating climate change into their multi-asset portfolios, members of our Investment Strategy & Solutions Group offer five important insights.

Multiple authors

event April 2024

3 min

Article

2025-04-30

Manager selection Climate iStrat program Strategic allocation Multi-asset iStrat Whitepaper

A blueprint for building climate-aware multi-asset portfolios

Members of our Investment Strategy & Solutions Group take a deep dive on the issues asset owners should consider when choosing climate-aware portfolio building blocks, from the evolving opportunity set to the active/passive decision.

Multiple authors

event March 2024

Whitepaper

2026-03-31

Liability-driven investing Equity Private pension (DB) iStrat Factor solutions Multi-asset Strategic allocation Factors iStrat program Article

Using defensive equities in a return-seeking portfolio: A factor framework for corporate plans

Members of our LDI and Fundamental Factor teams share their views on defensive equity investments, including their role in a plan's portfolio and the current environment for defensive factors.

By

Tom Simon, CFA, FRM

Nick Samouilhan, PhD, CFA, FRM

event March 2024

Article

2025-03-31

Asset allocation Risk management Multi-asset Currency Strategic allocation iStrat program Article iStrat

Managing currency exposure in multi-asset portfolios: how to weigh the trade-offs and impact

Nick Samouilhan, Head of Multi-Asset Strategy – APAC, evaluates the trade-offs of different currency hedging approaches and offers a novel framework for gauging their potential portfolio impact.

Multiple authors

event February 2024

Article

2026-02-28

Outlook Multi-asset iStrat Emerging Market Development Multi-Asset solutions Factor solutions Tactical allocation Strategic allocation Manager selection Thematic exposure Article

Multi-Asset Market Outlook

To help think through the asset allocation outlook and implications for 2023, we offer views from iStrat, our investment strategy and solutions group

Multiple authors

event January 2024

Article

2024-12-31

Asset allocation Multi-asset Risk management iStrat Strategic allocation iStrat program Whitepaper

Rebalancing a multi-asset portfolio: A guide to the choices and trade-offs

Many investors wrestle with portfolio rebalancing decisions, particularly in volatile environments. In this paper, members of our Investment Strategy Team argue for a well-structured rebalancing policy and share research on different approaches and common implementation considerations.

By

Jacqueline Yang, CFA

event December 2023

Whitepaper

2025-12-31

Asset allocation Emerging markets Equity iStrat EM equity China Strategic allocation Article

Beyond China: what does the rest of the EM equity world have to offer?

For investors contemplating a separate allocation to EM ex-China equities, members of our iStrat Team share their research on the composition of the opportunity set, the growing divergence in the behavior of EM ex-China equities and Chinese equities, and the long-term market outlook.

By

Supriya Menon

event November 2023

Article

2025-11-30

Income Asset allocation Multi-asset iStrat Whitepaper Strategic allocation

Income investing in multi-asset portfolios: Tipping the balance in your favour

Income can play a crucial role in the pursuit of investment objectives over time, but research from our iStrat Team argues for a balanced approach to asset allocation decisions given the potential trade-offs between income and capital return, risk, and portfolio diversification.

Multiple authors

event September 2023

Whitepaper

2024-09-30

Liability-driven investing Portfolio construction Multi-asset iStrat Private pension (DB) Article Strategic allocation Liquid alternatives & hedge funds

Mind the liquidity (and cost) gap: Revisiting a plan’s hedge-ratio approach

Members of our LDI Team take a fresh look at the process of setting and managing liability hedge ratio targets, including liquidity considerations that are top of mind today and the implementation toolkit.

By

Jeremy Forster

event June 2023

Article

2025-06-30

Climate Macro and market iStrat Multi-asset Strategic allocation Liquid alternatives & hedge funds Tactical allocation Article

Is your asset allocation ready for the realities of climate change?

Our Investment Strategy Team shares key findings from the research behind their climate-aware strategic asset allocation (SAA) approach, including challenges and trade-offs that asset owners should understand.

Multiple authors

event June 2023

Article

2025-06-30

Inflation Portfolio construction Multi-asset iStrat Quick Take Strategic allocation Multi-Asset solutions Liquid alternatives & hedge funds

Is the structural case for inflation still intact?

Even if inflation cools in the coming months, members of our Investment Strategy team expect it to be "stickier" over the long term. Find out how that might impact asset allocation decisions.

By

Nick Samouilhan, PhD, CFA, FRM

event May 2023

Quick Take

2024-05-29

Multi-asset Liquid alternatives & hedge funds iStrat Strategic allocation Public pension (DB) Equity Fixed income Whitepaper Private equity

Closing the return gap: A new set of “stepping stone” ideas

Multi-Asset Strategist Adam Berger offers incremental, flexible investment ideas that can be combined to help asset owners pursue their goals amid declining capital market return expectations.

By

event May 2023

Whitepaper

2024-08-02

Portfolio construction Risk management Multi-asset iStrat Whitepaper Strategic allocation Multi-Asset solutions Liquid alternatives & hedge funds

The alpha equation: Balancing active risk sources in multi-asset portfolios

Members of our iStrat Team share their research on the process of deciding how much active risk to take at the asset class and security levels in pursuit of alpha objectives. They also offer a step-by-step framework for implementing the research findings.

By