Briefings, research, charts and analysis on the institutions, capital flows and systemic risks shaping long-horizon portfolios.
Our research hub on universal ownership: the theory, why externalities and systemic risk land on the portfolio, the role of stewardship and fiduciary duty, and how universal owners differ from ordinary asset owners.
A universal owner is an investor so large and diversified that it effectively owns a slice of the entire economy. That changes the job from picking assets to managing the system. Here is the theory and what it means in practice.
A plain-English glossary of the language of long-term institutional capital: the funds, the allocation frameworks, the governance terms, and the climate and megatrend risks that universal asset owners care about. Each term links to a fuller explainer.
Why the world's most sophisticated funds are abandoning fixed asset-class buckets for a single, competition-for-capital view of risk and return.
Our research hub on sovereign wealth funds: definitions, the league table, governance and the Santiago Principles, fund types, and how state capital invests across public and private markets.
A sovereign wealth fund is a state-owned investment vehicle that manages national wealth for long-term goals. Here is what that means, the main types, and how SWFs differ from central-bank reserves and public pensions.
Our research hub on the structural forces that shape returns over a sovereign or pension investor's multi-decade horizon: sovereign AI and AI infrastructure, energy security, critical minerals, supply chains, food, demographics, fiscal sustainability and deglobalisation.
Sovereign AI is the drive by nations to control their own AI compute, data and models. Sovereign wealth funds are now central financiers of it. Here is what the term means and what the build-out implies for long-term investors, with the usual caveats on fast-moving figures.
The Santiago Principles are 24 voluntary standards for how sovereign wealth funds are governed, disclosed and invested. Here is what they cover, why they were created in 2008, and how they are used today.
A dated, methodology-noted view of the world's largest sovereign wealth funds, why the rankings differ between sources, and what the league table does and does not tell you. Figures are approximate and require verification before use.
Global asset owners are the institutions that hold the world's long-term capital and bear its ultimate investment risk: pension funds, sovereign wealth funds, endowments, foundations and insurers. Here is what unites them and how they differ from asset managers.
Our research hub on global asset owners: who holds the world's long-term capital, the allocation frameworks they use such as the total portfolio approach, and how they invest across private markets, infrastructure and real assets.