Investment Perspectives - September 2026

Welcome to our summer edition of Investment Perspectives. Much of the turbulence that characterised the first quarter has continued, with heightened geopolitical and market volatility amid the ongoing US-Iran conflict. 

Despite this instability, it was a strong second quarter for ‘risk’ assets, as concerns around global growth and rising inflation faded. A strong earnings season for technology behemoths and easing inflation expectations supported both equity and credit markets. The FTSE All-World Index rose 15.2% in Q2, while credit spreads tightened towards historically low levels.

Against this backdrop, we’re sharing a handful of our latest investment ideas to guide you through the second half of the year. 

Here’s what’s lined up in this edition:

• Active versus passive equities - Andrew McCollum, investment research analyst, discusses the respective merits of active and passive equities, exploring how to build a resilient portfolio.
• Private equity mid-year outlook – from our research team, Asad Rashid and Daniel Boulton-Jones give a forward-looking perspective on the key themes in private equity markets.
• Questions to ask your impact manager – senior RI consultant Sanjay Joshi outlines some big questions asset owners can pose to impact managers in an environment increasingly focused on sustainability objectives.
• Capital markets update – our capital markets team look at Q2’s market drivers and give their medium-term outlooks on government bonds, credit, equities and property.
• Fireside chat – this quarter, we’re sitting down with our Head of Charities, Endowments and Foundations, Chris King.

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.

General Investment Risk Warning
Please note the value of investments, and income from them, may fall as well as rise. This includes but is not limited to equities, government or corporate bonds, derivatives and property, whether held directly or in a pooled or collective investment vehicle. Further, investments in developing or emerging markets may be more volatile and less marketable than in mature markets. Exchange rates may also affect the value of investments. As a result, an investor may not get back the full amount of the original investment. Past performance is not necessarily a guide to future performance.