Christmas reading list: The search for alpha continues in 2026

Exiting a volatile year does not mean risks have abated

This Christmas, we invite you to explore critical insights from the likes of PGIM, Candriam, and AQR (among other global asset managers and institutions) on themes that will remain essential in 2026. These include private markets, climate change, geopolitical conflicts, equity valuations, and tokenized financial products.

Five Forces that Could Shape Markets in 2026 (Fidelity Investments)

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

2025 has been a volatile year, containing numerous market-moving events. Here is what investors can expect from 2026.

Rethinking Sovereign Debt to Finance the Climate Transition (FTSE Russell)

For compliance reasons, this paper is NOT accessible in the United States and Canada

Governments are at the forefront of the fight against climate change, setting national climate policies, directing public funds toward sustainable projects.

Valuation: Why It Still Matters in Today's Stock Market (MFS)

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

Valuation often becomes most critical during periods of market extremes, be they euphoric bull runs or panic-fueled selloffs.

Private Debt: Predictable Real Returns (Candriam)

Private debt offers predictable, contractual cash flows. To see the balancing role cashflow can play within a portfolio, consider the differing characteristics of other assets.

2025 Defined Contribution Landscape Survey (PGIM)

In this four-part publication, PGIM offers an in-depth view of the evolving landscape of U.S. DC pension funds.

The Future of European Equity Market Structure (New Financial & Goldman Sachs)

It is not news that Europe has a complex patchwork of stock exchanges and post-trade market infrastructure. This paper highlights just how complex this network really is.

Active Extension: A Potential Solution for Improving Equity Returns (AQR)

Investors must take active risks if they want to achieve higher returns than the market. How this risk is taken, however, matters greatly.

The Rise of Tokenized Money Market Funds (BIS)

Tokenized money market funds (TMMFs) are a rapidly growing segment of decentralized finance (DeFi), impacting the broader financial ecosystem.

Carbon Markets: Fluff or a Concrete Opportunity? (Standard Chartered)

Carbon markets have been growing and evolving in recent years. What opportunities do they offer to allocators?

From Capital to Capacity, Nuclear Is Scaling Up (Brookfield)

Corporates and governments are investing in nuclear power for many reasons. This report explores these in detail.

Liquidity’s Premium: Why Public Markets Are Outpacing Privates — For Now (FEG)

Private markets are emerging from a challenging stretch stronger and, in some respects, fairer, for investors.