CIO reading list: October 2025

"Uncertainty is the only constant in financial markets"

The quote above, from Deutsche Bank, is certainly effective in encapsulating the overall feeling of investors throughout 2025 so far. You’ll find the full paper below – among other pieces of thought leadership that stood out to us this month.

For CIOs

Macro Pulse: Turning Leaves, Turning Points (New York Life Investments)

Have investors entered a new interest rates regime? If yes, what allocation decisions that need to be made now?

Asset Owner Survey '25: Quantitative Analysis (Morningstar Indexes)

Asset owners remain committed to their fiduciary duties while trying to navigate a complex market and geopolitical landscape.

Diversification under the Spotlight (Northleaf Capital Partners)

Maintaining diversification across geographies and subsectors is particularly important in the current environment.

Tariffs, Technology, and Transition (PIMCO)

Three macro forces are shaping the markets: trade frictions, AI developments, and challenges to institutions, such as the Federal Reserve.

The Future of Transfer Agency: Webinar Key Takeaways (State Street)

Read the main takeaways from State Street's recent webinar on the future of the UK's transfer agency market.

From CIOs

Echoes of Euphoria (Crescat Capital)

There are clear signs of euphoric market behaviour in many parts of the financial sector. How can investors navigate this landscape?

The Innovation Bubble Nexus (Rockefeller Global Family Office)

Speculative trading has increased in recent months, especially in innovation-related parts of the market. As such, more investors are turning toward precious metals as hedges.

3rd Quarter 2025 Commentary (TIFF)

Despite unsettling headlines, the authors believe that U.S. exceptionalism will endure.

Insights Q4 2025: Ride the Trend (DBS)

With markets displaying signs of fragility, diversification is the only free lunch. Indeed, today more than ever, diversification matters.

Buy the Dip or Hedge the Deep? (Deutsche Bank WM)

Uncertainty is possibly the only real constant in financial markets. There are times of less uncertainty and times when it is abundant.