A research team argues that Democratic gains in state governorships, driven by anti-data-center rhetoric, raise regulatory risk for AI infrastructure, triggering a tech sell-off. It contends the AI buildout will continue but favour diversified hyperscalers over single-product and smaller neocloud providers.
5 NOVEMBER 2026
Janus Henderson argues decumulation is fundamentally different from accumulation and cannot be solved by a single product or pooled pathway. It proposes a modular, AI-orchestrated 'system' combining income, liquidity, growth and protection sleeves personalised to each retiree at scale.
Wellington Management argues cybersecurity has become a material ESG risk for private companies, especially pre-IPO, requiring governance frameworks, disclosure practices, and dedicated expertise to manage rising regulatory scrutiny and attack risk.
Baillie Gifford's Long Term Global Growth team explains its deliberately unstructured, generalist approach to idea generation, favouring curiosity, open-mindedness and tolerance for failure over sector coverage. Access to private companies and on-the-ground research, including in China, helps the team identify rare outlier stocks that drive long-run returns.
SuMi TRUST AM's Katsunori Ogawa argues Japanese corporate governance reform, inflation and rate normalisation are shifting management mindsets from capital preservation toward value creation, widening gaps between reforming and laggard firms. He contends active stock selection focused on semiconductor supply chains, AI enablement and global IP/content businesses will be key to capturing Japan's corporate transformation.
4 NOVEMBER 2026
PGIM's Dianna Carr-Coletta argues private credit's rapid growth and recent corporate failures have fueled overstated systemic fears, noting direct lending remains fundamentally a conservative, senior-secured, long-established asset class.
Loomis Sayles' Brian Horrigan argues that the 2026 US midterms' congressional margin, not just the outcome, will shape fiscal negotiations, with 2027 funding and debt-ceiling deadlines posing market risks. He also flags congressional oversight of Big Tech, AI and energy firms as a sector-specific risk.
Robert W. Baird reports tax-exempt municipal yields fell sharply in October as Treasury rallies and lighter issuance improved technicals, while fund inflows continued and the curve steepened. The firm also argues state and local borrowing has lagged economic growth, leaving long-term infrastructure needs underfunded.
Partners Group's Pierre-Yves Cyr explains how the firm built its royalties strategy, a new private-markets asset class spanning music, healthcare, energy and media, emphasising cross-sector diversification and downside-focused structuring over leverage. He argues that long-dated, predictable cash flows from quality assets, rather than structuring alone, underpin attractive risk-adjusted returns.
