Columbia Threadneedle Investments (UK)
The latest research and outlooks in the ProAllocate library
Also from the same group: Columbia Threadneedle Investments (US)
- Macro
Macro Pulse: The midterms change the US political landscape
Anthony Willis argues that the Democrats' sweeping midterm victory, alongside easing Iran tensions and a Bank of England rate hike, creates a backdrop where political gridlock should support markets despite AI-stock volatility. He notes markets have historically decoupled from political noise provided earnings growth and economic fundamentals remain solid.
- Pensions
Rethinking the DB endgame: is your scheme ready for run-on?
Columbia Threadneedle outlines a SURPLUS framework to help UK defined-benefit trustees and sponsors assess governance and investment readiness for running on pension schemes rather than buying out, aiming to protect members while unlocking surplus value.
- Equities
Global technology investing: AI and beyond
Columbia Threadneedle's Rahul Narang and Vimal Patel argue that credit markets, financing costs and diverging balance-sheet strength between hyperscalers and debt-reliant neoclouds will determine AI capex sustainability and tech leadership into 2027. They advocate selective, diversified stock-picking beyond mega-cap AI names as the sector's rally broadens.
- Fixed Income
In Credit Weekly Snapshot – Tech it to the limit
Weak high-yield credits are under pressure from AI-related financing concerns, while the Fed, ECB and Bank of Japan held rates steady amid yield-curve steepening and renewed French political risk. Oil prices rose on Houthi attacks on Saudi Arabia, though bond markets reacted calmly.
- Macro
Market Perspectives: UK Budget 2026: The consequences
Anthony Willis argues the UK Budget was a non-event, deferring major fiscal decisions to next year's Spending Review while growth remains weak and welfare costs balloon. He says clarity on defence funding, EU ties and the PM's growth plan will matter more to investors.
- Macro
Macro Pulse: Low-key UK Budget leaves tough decisions for another day
Weekly macro review: UK's Chancellor John Healey delivered a low-drama budget as the fiscal buffer narrowed, Brazil's Lula won a shock election triggering market turmoil, and the Fed held rates steady under Kevin Warsh.
- Equities
Too Big to Bundle: Why Japan merits a dedicated equity allocation
Simon Morton-Grant argues Japan's corporate governance reforms, accelerating cross-shareholding unwinds and household savings shifting into equities are driving a structural value-creation cycle akin to 1980s America. He contends investors should size Japan as a dedicated, actively managed allocation rather than diluting it within broad international mandates.
- Emerging Markets
Emerging Markets: A broadening opportunity
Krishan Selva argues that emerging market equity opportunities are broadening beyond a narrow set of leaders, driven by infrastructure spending, energy security and domestic investment themes. He highlights attractive valuation discounts versus developed markets, potentially aided by a weaker dollar.
- ETFs
Rethinking the core: why active ETFs can play a bigger role in today’s equity portfolios
Columbia Threadneedle's Christine Cantrell argues that rising index concentration and stock-level dispersion undermine passive core equity exposure, making rules-based active ETFs a more efficient core holding. A case study shows blending an active ETF into core allocations can improve risk-adjusted returns and lower fees.