Industry news and views from Panacea and our partners.
Investment Commentary_
BNY: Global fixed income: favourable conditions
Global sovereign bonds with currency-hedged exposure may present an attractive tactical investment opportunity amid ongoing uncertainty, according to the BNY Investment Institute. With interest rate differentials currently favouring the US and developed market (DM) government bond yields elevated, the environment supports a positive outlook for fixed income investors seeking income and risk diversification.
Artemis: Welcome to the fixed income café where lunch can be free
Its an old adage that theres no such thing as a free lunch somewhere down the line theres a payment to be made. Except perhaps in the world of fixed income. The challenge is to spot the fixed income free lunches available for everyone plus those which not just anyone can snaffle unless they are active, nimble and focused investors.
Breaking Down Advisers AI Adoption Barriers
The investment industry has always been information-intensive, requiring analysts and advisers to process vast amounts of market data, economic indicators, and company reports to keep clients informed. Today, artificial intelligence is revolutionising how we create and deliver this content but only when implemented responsibly.
Breaking Down Advisers AI Adoption Barriers
The financial advisory industry is at an inflection point. Artificial intelligence (AI) has the potential to transform client service, portfolio construction, compliance, and day-to-day operations. Yet despite the promise, adoption among financial advisors remains surprisingly low.
Unlocking opportunities beyond the US
Join Steven Hay of the Baillie Gifford Managed Fund on Tuesday 25 November at 2pm to discover why a geographically balanced asset allocation could be the key in todays environment.
Webinar: Unlock 125+ years of market insights to help guide clients with confidence
Join Sparrows Capital on Wednesday 3rd December for an insights-packed session with Professor Elroy Dimson, finance pioneer, whose research across 125+ years of market data has shaped how investors understand risk, return and long-term market behaviour.
Register now: Rathbones Asset Management Fixed Income Webinar, 25 November 2025
Join Bryn Jones, Head of Fixed Income at Rathbones Asset Management, for his upcoming webinar on Tuesday 25 November at 10.00am, as he reflects on what has been an interesting year for bond markets.
Tom Slater: Manager Review
Scottish Mortgage manager Tom Slater reflects on a year of operational progress amid market volatility, explaining why the trust reduced its NVIDIA stake, how resilience has become central to portfolio construction, and where he sees the next generation of transformational companies.
BYDs Right to Win
From battery maker to China's top carmaker, BYD is now expanding globally. With technological leadership, tight cost control and a founder-led vision, the company looks set to reshape the electric vehicle market.
Artemis: Webinar: Multi-asset The importance of keeping it simple
Wednesday 12 November 10am Do income investors really need more than bonds and equities? Register to hear Jack Holmes and Jacob de Tusch-Lec, managers of the Artemis Monthly Distribution Fund, as they explain why simplicity remains powerful in multi-asset income investing.
BNY: Earnings improvement is broadening
Earnings growth is on investors minds, especially as it broadens beyond the big tech stocks that have shown the most improvement in the past. We believe this is a positive sign for continued equity gains.
Artemis: Word on the street is the UK economys not that bad
If we want to know whats really going on in the UK economy, we dont listen to politicians, economists, think tanks or statisticians. We ask companies.
Schroders: Is the bull market in gold over already?
There has been a sharp downturn in the price of bullion and gold equities. What has caused it, and where does it leave the outlook for gold from here?
Aberdeen: Climate scenario analysis shows how future climate shifts could affect investment value
Climate change is a financial risk, with extreme weather costing over $2 trillion in the past decade. Our bespoke Climate Scenario Analysis helps investors manage these risks and uncover opportunities by modelling real-world shifts in policy, technology, and company strategies.
Pictet: Small but mighty: can microbes save the planet?
Tiny microbes could help combat climate change, improve crop yields and recycle plastic.
AXA IM: US High Yield Outlook
After a volatile spring, the US high yield market enjoyed a summer of relative calm. Spreads have grinded tighter, and companies have taken advantage of declining yields to issue bonds, with a heavy flow of supply being met with equally strong demand.
Artemis: Five reasons to rotate into global small-caps
In an era where global equity portfolios have become overwhelmingly concentrated in expensive US large-caps and technology stocks, investors have been overlooking an asset class that provides ample diversification and could be on the cusp of a recovery.
BNY: Managing risk in MADR
BNY Investments Newton head of mixed assets investment, Paul Flood explains how the team is addressing the risks around strong equity market performance and the high gold price.
AXA IM: No data, no cry
There has been no official US economic data this month. Who cares? The markets have enough to go on to assume a benign macroeconomic backdrop.
M&G Wealth: Pre-Budget policy, regulation and planning
Ahead of the Autumn Budget on Thursday 20 November well be running a Techy Thursday Special online event with guest speakers from AJ Bell to present a broader industry view of the state of the nation.
BNY: Optimism grows among small businesses
Small businesses are becoming more optimistic, a positive indication at a time when economists are debating whether growth will slow. We view this confidence as a positive signal for future growth.
Wealthtime: The new realities of retirement income choice
Everywhere you look, the pressures on the UK economy are increasingly hard to ignore. Chancellor Reeves faces a precarious balancing act between government spending, taxation receipts and fiscal rules, all against a backdrop of persistent inflation and relentless cost-of-living concerns.
M&G Wealth: Autumn Budget 2025
Chancellor Rachel Reeves has set 26 November as the date for the Labour Governments second Budget.
Are factsheets still fit for purpose?
The first wave of results from our adviser survey is in, and they reveal some striking insights about how advisers really use fund factsheets. One respondent summed up the challenge: Factsheets often contain out-of-date data, yet were berated for excluding them from client files.
Fidelity Adviser Solutions: Why the 4% rule shouldnt be the tail that wags the dog
Reliance on a single figure is overly simplistic. The recent FCA thematic review of retirement advice questioned whether a single rate, that doesnt reflect individual circumstances, is appropriate. Here Fidelity Adviser Solutions look at the cost of a comfortable retirement and the circumstances which determine how much someone can safely take.
Aberdeen: Breakfast briefing webinar: 3 ways to diversify with Smaller
Can Smaller Companies boost portfolio diversification and growth? Sign up to our webinar to Aberdeens find out. For Professional Investors only. Capital at risk.
T.Rowe Price: Senior members can benefit from personalised asset allocation
Our recent study, conducted in collaboration with experts from Massachusetts Institute of Technology (MIT) Sloan School of Management and Stanford University Graduate School of Business, reveals that as retirement savers age, both their asset allocation preferences and accumulated savings become more varied. This is a summary of the paper, Age, evolving allocation preferences, and the case for personalized solutions. We looked at data from T. Rowe Prices US recordkeeping platform (covering more than 2 million participants) and broader household surveys and found that lower-than-recommended equity allocations are often driven by behavioural frictionssuch as inertia and limited investment knowledgerather than by risk aversion alone.
T.Rowe Price: Establishing industry best practice: A net zero methodology for sovereign investors
Sovereign bonds arguably represent the deepest and most liquid part of global fixed income markets, and they play a prominent role in many institutional investors portfolios.1 However, sovereign debt integration within net zero strategies has traditionally been low due to several barriers,2 as well as the lack of an industry-agreed methodology.
Upfront: Small caps, AI and tech giants
Join host Cherry Reynard on Wednesday 5 November at 10.30am for the next episode of Upfront, Baillie Giffords 30-minute live investment show. Packed with up-to-date topical insights and a live Q&A with investment specialist Bill Chater.
Scottish Mortgage Portfolio Update Q3 2025
Investment Specialist Hamish Maxwell reflects on how artificial intelligence and other structural shifts are redefining industries, highlights portfolio exposure across transformational growth areas, and reviews recent trades and performance.
Tuning the Advice Engine for Growth
Now in its seventh year, NextWealths Financial Advice Business Benchmarks Report 2025 reveals how advice firms are evolving - from pricing models and staffing ratios to investment mix and technology adoption. The 2025 edition captures a shift in mindset: from coping with regulation to optimising for growth. Advisers describe a rolling tune-up of their advice engines - standardising processes, improving data, and simplifying charging structures.
PIMCO: Fixed Income: Strong Starting Point, Stronger Potential
Bond returns have been strong and the opportunity is far from over. With compelling yields and excess return potential across public and private markets, Marc Seidner, CIO non-traditional strategies, shares why fixed income remains a powerful tool for generating durable income and managing risk.
T.Rowe Price: AI and The Market Environment for Technology Stocks
Portfolio Manager Dom Rizzo outlines his views on the market backdrop for tech stocks, including the areas hes most excited about as well as those where he is more cautious.
TRP: US All- Cap Opportunities Equity Strategy
Portfolio Manager Justin White highlights areas of the market that appear favourable and the key risks to his outlook.
TRP: US Smaller Companies Equity Strategy
Portfolio Manager Matt Mahon shares whats on his mind as he assesses the current environment for US smaller companies.
Pictet: Beyond the Mag 7: where the next market leaders could emerge
In the story of the equity markets remarkable run, the Magnificent 7 tech titans have played a starring role. The narrative that surrounds them is a seductive one. Together, Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia and Tesla have accounted for close to 50% of the S&P 500 indexs total gains over the past three years.
BNY: Why Active Management Leads the Way in Fixed Income Investing
While passive equity funds have become a staple in many portfolios, passive fixed income strategies have yet to gain the same traction among UK financial advisers and wealth managers. Our latest BNY Insight Fixed Income report reveals why active management remains the preferred choice for 64% of fixed income allocations.
AXA IM: Climbing up the curve
Longer-duration bond assets are starting to outperform shorter-duration bonds. This makes sense given the steeper yield curves delivering higher carry in longer-dated bonds.
BNY: Global credit: Opportunity in a world of unpredictability
Fixed income was challenged in 2022 due to inflation and rising rates, causing historic losses. But Insight Investment head of global credit, Adam Whiteley believes current high bond yields offer strong compound return potential, especially for active managers.
Aberdeen: Short-dated credit: resilience amid the upheaval
Sticky inflation, tariff risk, and diverging central banks. Short-dated bonds can offer resilience when markets dont.