UAO Research
Is the long bond still the anchor? When the term premium rises everywhere at once
UAO Research · May 25, 2026 · Macro / Capital Markets · Feeds: the duration theme that recurs in The Universal Owner Risk Radar For most
Universal Asset Owners
Briefings, research, charts and analysis on the institutions, capital flows and systemic risks shaping long-horizon portfolios.
UAO Research
When the index manager stops being your proxy: does unbundling stewardship strengthen the universal owner's voice — or hollow it out?
UAO Research · May 22, 2026 · Stewardship, Governance & Risk · Feeds: The Universal Owner Risk Radar For most of the past decade, a
UAO Research
Allocating Across a Fragmenting World
Reserve diversification, friend-shoring and a more fragmented order. The new map a universal owner has to allocate across.
UAO Research
Stewardship at Scale: Can a Universal Owner Shape What It Owns?
If you own the whole market, you cannot sell your way out of a bad system. Can universal owners actually shape what they own?
UAO Research
How Infrastructure Moved From the Alternatives Bucket to the Core
Inflation-linked, long-duration, and increasingly data-driven. Why asset owners are reclassifying infrastructure as a core holding.
UAO Research
Demographics: The Most Predictable Force a Universal Owner Can't Diversify Away
Aging populations are a slow, certain force the universal owner cannot diversify away. What it does to liabilities, duration and returns.
UAO Research
The Energy Transition Is an Allocation Problem, Not a Slogan
The transition is a multi-trillion-dollar capital-formation problem. For universal owners it is an allocation question, not a slogan.
UAO Research
Private Markets Meet the Liquidity Question
Record dry powder, a backed-up distribution cycle, and the denominator effect. Private markets meet the liquidity question.
UAO Research
What a Universal Owner Actually Owns When It Owns AI
Concentration risk on one side, a productivity regime change on the other. What a universal owner actually owns when it owns AI.
UAO Research
Why the World Keeps Trying to Copy Canada's Pension Funds
Independent governance, in-house teams, and real assets. How CPP Investments and Ontario Teachers' built the template the world now copies.
UAO Research
The $13-Trillion Question: How Sovereign Wealth Rewrote the Map of Global Capital
Sovereign funds now steward well over $13 trillion. The Gulf giants — PIF, ADIA, Mubadala, QIA — are rewiring the map of global capital.