M&G's Life Investment Office sets out its Q3 2026 market outlook across geopolitics, private markets and the active-passive debate
The 80-strong team managing £159 billion, including the £70 billion PruFund range, addresses the investment implications of the Strait of Hormuz closure, index concentration risk and the case for private credit under structurally higher inflation.
The Lighthouse Investment Outlook Q3 2026 from M&G's Life Investment Office covers three themes relevant to advisers reviewing client portfolios in the current environment.
Paul Parascandalo examines how the disruption to global oil supply following US-Israeli strikes on Iran is reshaping rate expectations, gilt yields and emerging market growth forecasts, and what the team's positioning response looks like in practice.
Ben Troke sets out the private markets case under persistent inflation, including the team's thinking on illiquidity premiums following the Bank of England's April 2026 systemic risk warning on the sector.
Ben Hamilton looks at index concentration in global equities, the data on active manager success rates by asset class, and how PruFund blends approaches across public markets.
The edition also includes the PruFund Growth Fund's strategic asset allocation as at 1 June 2026.
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