Investment Perspectives - January 2026

2025 proved a tumultuous year for investors here in the UK and further afield, with sensational headlines in plentiful supply. Despite this, equities notched up a stellar year of performance, although heady valuations have sparked conversations about the resilience of the market. This is an area our capital markets team explore, alongside their outlooks for credit markets, gilts and property.

In this edition of Investment Perspectives and to kick off 2026, we’ve collated a range of articles to help you take stock and plan for the year ahead. Here’s what’s included:

• DB investment outlook - As our CIO, I set out why diversification is top of the menu for investors.
• Key DC themes - Alison Leslie, Head of DC Investment, discusses her key themes for 2026, including innovation in the decumulation stage, consolidation and value for money.
• Sustainable investment – 2026 and beyond - André Ranchin and Christina Williams explain why portfolio resilience, effective engagement and looking beyond portfolio emissions are important themes this year.
• Taking stock: LDI considerations in 2026 - Stephen Jasinski reflects on the outlook for gilts after the Chancellor’s autumn budget, and lays out key talking points for schemes that hold LDI assets.
• Capital markets update - A retrospective look at the key drivers of markets in Q4, alongside our asset-class outlooks for the medium term. Co-authored by our capital markets team.
• A fireside chat with Chris Arcari

To read the full edition, click below: 

Read the full edition

We’re always keen to hear how we can help you achieve the best investment outcomes for your pension scheme members. Please get in touch for a one-to-one conversation on any of the topics covered in our articles.

Important information

This communication has been compiled by Hymans Robertson LLP® (HR) as a general information summary and is based on its understanding of events as at the date of publication, which may be subject to change. It is not to be relied upon for investment or financial decisions and is not a substitute for professional advice (including for legal, investment or tax advice) on specific circumstances.HR accepts no liability for errors or omissions or reliance on any statement or opinion. Where we have relied upon data provided by third parties, reasonable care has been taken to assess its accuracy however we provide no guarantee and accept no liability in respect of any errors made by any third party.