Top Papers: Thought-provoking insights from August

Explore cutting edge insights from global institutions on key topics

Although markets were relatively calm in August, a number of the forces that weighed on investor sentiment earlier in the year are still very much alive. Moreover, long-term opportunities, such as AI-related investments, have still not been fully explored. And the total portfolio approach continues to slowly replace the more traditional framework based on modern portfolio theory. Read more on these topics below.

Long-Term Asset Allocation – The Great Disruption? (BNP Paribas AM)

BNP Paribas Asset Management's base case scenario is that the economic environment will again “normalize” over the coming years, as markets adapt to new ways of doing business.

Five Key Themes for the Second Half of the Year - Fixed Income (MFS)

For compliance reasons, this paper is only accessible in certain geographies

Absent a large macro shock, it has become increasingly complicated to hold a high conviction view on being long duration across a number of markets.

Macro Insights Q3 2025 (Fisher Investments)

For compliance reasons, this paper is only accessible in certain geographies

Explore this in-depth report on key economic and market dynamics that will shape the investment landscape for months to come.

How America Saves 2025 (Vanguard)

For compliance reasons, this paper is only accessible in the United States

Although published earlier in the year, this report is worth highlighting. It surfaces critical dynamics within the U.S. economy of interest to institutional allocators.

3.5% to 2035: Bridging the Global Infrastructure Gap (Allianz)

The global push to cut carbon emissions and electrify the global economy is the major catalyst for infrastructure investment.

Private Assets Are Coming to 401ks but… (EDHEC Scientific Infra)

Early private markets movers in the 401(k) space have utilized partnerships with a target date fund provider structured as a Collective Investment Trust.

Stablecoins and the Future of Regulated Digital Money (Invesco)

Stablecoins—a kind of stable-value asset issued on a blockchain and useful for payment—appear to have reached an inflection point.

Kaleidoscope Series: Geoeconomic Fragmentation (Fidelity International)

For compliance reasons, this paper is only accessible in certain geographies

Investors are entering a new era of geopolitics with different market dynamics and increased uncertainty. Learn how to navigate the new normal.

Building the Backbone of AI (Brookfield)

Throughout history, transformative technologies—from steam engines to the internet—have triggered waves of economic advancement by reshaping industries and creating new markets.

Transitioning from SAA to TPA (WTW)

An early step that asset owners should consider in their transition from SAA to TPA relates to team and governance structures.