Wellington Investment Outlook

2026 INVESTMENT OUTLOOK

Opportunity ahead: Optimism or illusion? Introduction Outlook contents The views expressed are those of the authors at the time of writing. Other teams may hold different views and make different investment decisions. The value of your investment may become worth more or less than at the time of original investment. While any third-party data used is considered reliable, its accuracy is not guaranteed. For professional, institutional, or accredited investors only.

2026 Investment Outlook: Navigating optimism, volatility, and risk In this collection we bring together global research and multi-asset expertise to evaluate what lies ahead for investors. From growth and inflation to policies and risks, we examine the signals shaping investment decisions. Watch these 3 videos to learn more.

Outlook contents Asset Allocation Outlook Elections, earnings, and global stimulus driving returns While 2025 may be a hard act to follow, our experts see a positive setup for the year ahead and explain what it could mean for stocks, bonds, and commodities. Global Economic Outlook Investing in 2026: prepare for inflationary growth Our experts share their annual macro outlook and discuss the likely implications for markets and investors. They outline four potential scenarios graded by level of probability. Bond Market Outlook – Rates Finding durable value amid shifting currents Our rate specialists see durable value for investors who can flexibly adjust to the shifting currents ahead, and they explore how to approach bond investing in 2026. Bond Market Outlook – Credit Low tide, sharp eyes: What to pick up Amid fewer opportunities across credit sectors our experts are approaching the coming year as careful beachcombers, looking for best risk/reward tradeoffs. Equity Market Outlook Broadening underway? 6 equity ideas for 2026 AI bubble? Geographic diversification? Opportunities beyond US mega cap? Our experts dive into key questions facing equity investors in the year ahead. Private Investing Outlook – Venture capital Venture capital outlook for 2026: key trends We explore IPO momentum, M&A acceleration, secondary market growth, public/private convergence, and the focus on quality investments. Private Investing Outlook – Private credit Private credit outlook for 2026: 5 key trends Our private credit experts discuss public/private convergence, changing credit profiles, the growth of retail, and much more. Hedge Fund Outlook Inflation, volatility, and valuations: 3 reasons hedge funds fit today’s market Our multi-asset strategists explain why economic and market conditions in the year ahead could make a compelling case for multi-strategy and equity long/short hedge funds.

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