VantagePoint: Electrifying Returns in the AI Era

Artificial intelligence (AI) is not just transforming business models and economic growth—it is contributing to a step change in global electricity demand, with far-reaching effects on energy markets, utility infrastructure, and investment portfolios. This shift is creating both acute challenges and compelling opportunities. Grid reliability, infrastructure bottlenecks, and decarbonization pressures are intensifying, while the scale […]

November 2025

A US-China Trade Deal Would Show Desire for Gradual Strategic De-risking, Not Abrupt Decoupling

Global markets rallied on October 26 following news that the United States and China have reached a “preliminary consensus” on several key issues. This development sets the stage for Presidents Trump and Xi to meet on October 30 in Korea, on the sidelines of the APEC leaders’ summit. Although a formal agreement has not yet […]

October 2025

Building Resilient Portfolios: Liquid Diversifiers for Today’s Institutional Challenges

What does it take to build a resilient portfolio in a world where market shocks, regulatory shifts, and geopolitical tensions are the new normal? For many institutions—such as Defined Benefit plans, Insurance organizations, Nuclear Decommissioning Trusts, and others—the challenge is twofold: achieving viable diversification and ensuring sufficient liquidity to rebalance portfolios and meet disbursement requirements. […]

October 2025

Weathering the Latest US Government Shutdown

The US federal government shut down overnight after the Senate failed to reach an agreement on funding government operations before the September 30 deadline. During a shutdown, “non-essential” federal agencies and programs that rely on annual discretionary appropriations must cease operations until funding is restored. Historically, shutdowns have been short-lived—averaging eight days—and have had negligible […]

October 2025

Advancing Healthcare Missions with Disciplined Spending

The new tax bill passed by Congress and signed into law in early July will have a financial impact on all healthcare systems and may require funds to be pulled from systems’ long-term investment pools (LTIPs). The recent federal Medicaid funding cuts will create financial challenges for healthcare systems, particularly those with high Medicaid exposure. […]

August 2025

Have Markets Moved Beyond Peak Tariff Uncertainty?

Yes, the period of greatest tariff uncertainty for global equity investors is likely behind us. Markets have gained increased clarity on the likely range of US tariff rates, and the most severe trade scenarios that were a real concern a few months ago now appear less probable. While tariffs will continue to contribute to equity […]

July 2025

Navigating the AI Revolution

July 2025

Navigating the AI Revolution: State of the Technology Today and Potential Future Trajectories

Artificial Intelligence (AI) is at a pivotal point, representing a potential “platform shift” more significant than the technological advances of the last 50 years with profound economic, societal, and geopolitical consequences. As investors navigate the flood of AI news, it is helpful to remember that a new technology’s impact is typically overestimated in the short […]

July 2025