Insights

A decade of U.S. dominance left global portfolios heavily concentrated. “Liberation Day” may mark the start of a structural reset. In this paper we analyse how asset owners are responding — rethinking equity concentration, rebuilding fixed income allocations, and reallocating capital toward Europe, the UK and Japan.

“Geopolitical shocks rarely change the structure of long-term portfolios, but they often influence the pace at which capital is deployed.” This paper explores how investment committees assess geopolitical risk across three time horizons — from the first week of market volatility to the longer-term implications for capital flows and investor confidence.