Our approach to multi-asset & multi-strategy
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Multi-asset & multi-strategy in focus

Riding the volatility in a changing world: House View 2023 Outlook Q&A
With the release of Aviva Investors’ House View 2023 Outlook, Jennie Byun puts the questions to Michael Grady on our latest economic and asset allocation views.
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Recession – a price worth paying? House View Q&A (Q4 2022)
With the release of Aviva Investors’ House View Q4 2022, Michael Grady (MG), head of investment strategy and chief economist, discusses the firm’s current economic thinking and asset allocation views with Jennie Byun (JB), multi-asset and macro investment director.
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Inflation and the correlation conundrum: Why it’s time to look at liquid alternatives in a new light
The new macro environment poses significant challenges for investors. Our AIMS Target Return team explain why a less conventional approach can help unlock return opportunities and maintain portfolio resilience.
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Inflation fight raises recession risk: House View Q&A (Q3 2022)
With the release of Aviva Investors’ House View Q3 2022, Michael Grady (MG), head of investment strategy and chief economist, discusses our current economic thinking and asset allocation views with Jennie Byun (JB), multi-asset and macro investment director.
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A more uncertain world - economic and financial decoupling: House View Q&A (Q2 2022)
With the release of Aviva Investors’ House View Q2 2022, Stewart Robertson (SR), senior UK and Europe economist, discusses the firm’s current economic thinking and asset allocation views with Peter Smith (PS), multi-asset and macro investment director.
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Elevated inflation – persistent, not permanent: House View Q&A (2022 Outlook)
With the release of Aviva Investors’ House View 2022 Outlook, Michael Grady (MG), head of investment strategy and chief economist, discusses the firm’s current economic thinking and asset allocation views with Jennie Byun (JB), multi-asset and macro investment director.
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Growing pains – strong demand, constrained supply and elevated inflation: House View Q&A (Q4 2021)
With the release of Aviva Investors’ House View Q4 2021, Michael Grady (MG), head of investment strategy and chief economist, discusses the firm’s current economic thinking and asset allocation views with Jennie Byun (JB), multi-asset and macro investment director.
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Beyond COVID – policy-led reflation: House View Q&A (Q3 2021)
We recently published our House View Q3 2021. Michael Grady (MG), Head of Investment Strategy and Chief Economist and Fabio Faltoni (FF), Multi-asset & Macro Investment Director discuss our latest economic outlook and its implications for global investment markets.
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US inflation spike: Temporary or permanent?
An unexpectedly high US inflation reading has sent shockwaves through financial markets. In this multi-asset & macro interview we step back and explore the deeper implications for financial markets.
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This time really is different: House View Q&A (Q2 2021)
We recently published our House View Q2 2021. Michael Grady (MG), Head of Investment Strategy and Chief Economist and Fabio Faltoni (FF), Multi-asset & Macro Investment Director discuss our latest economic outlook and its implications for global investment markets.
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The ESG journey in our multi-strategy process
Multi-strategy portfolios have come a long way in embedding ESG into the investment process, as Jennie Byun, Mark Robertson and Thomas Dillon explain.
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Democratic “Blue Wave” - a game changer for financial markets
The Democratic “Blue Wave” scenario has finally happened. Will this be a game changer for financial markets? Find out with David Nowakowski (DN), Senior Investment Strategist and Fabio Faltoni (FF), Multi-asset & Macro Investment Director.
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Multi-asset allocation views: Why now is not the time to give up on US Treasuries
There is still a good case for US Treasuries and long duration in multi-asset portfolios, argues Sunil Krishnan.
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Multi-asset allocation views

Multi-asset allocation views: How politics are influencing markets
Political risk has returned with a vengeance in 2022. Sunil Krishnan discusses what this means for multi-asset portfolios.
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Multi-asset allocation views: What high inflation means for portfolios
Inflation has direct and indirect consequences for financial markets. Sunil Krishnan reflects on how multi-asset investors can mitigate them and find areas of resilience.
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Multi-asset allocation views: Is this the end of the 60/40 strategy?
Government bonds have not acted as safe haven assets recently. Sunil Krishnan explores whether this spells the end of the traditional 60/40 allocation in multi-asset portfolios.
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Multi-asset allocation views: Central banks’ delicate balancing act
With high levels of inflation persisting around the world, central banks must tighten policy without hurting consumer demand and economic growth. This will be more difficult for some central banks than others, says Sunil Krishnan.
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Multi-asset allocation views: Five lessons for investors during turbulent times
From Russia’s invasion of Ukraine to surging inflation, risk has well and truly returned to markets in 2022. Sunil Krishnan offers useful insights for investors unaccustomed to such challenging times.
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Multi-asset allocation views: How durable is ‘transitory’ inflation?
As central banks continue to stretch what ‘transitory’ inflation means, Sunil Krishnan explores how price pressures are changing and the implications for multi-asset portfolios.
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Multi-asset allocation views: Emerging themes for portfolio diversification
Diversification is a core tenet of multi-asset investing. Sunil Krishnan explores thematic ideas that may help diversify portfolios in the current market environment.
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Multi-asset allocation views: Moving short on duration
A strong economic recovery and continued reflationary bias from the Federal Reserve could push long-dated yields higher on US Treasuries, says Sunil Krishnan.
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Multi-asset allocation views: Equities on a style merry-go-round
Although economic growth, operating leverage and valuations support equities, it is too early to tell whether value stocks are finally set to make a comeback, says Sunil Krishnan.
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Multi-asset allocation views: Loose policy doesn’t rule out a steeper curve
While inflation is expected to rise after last year’s lows, it will likely be transitory. Sunil Krishnan explores what this means for the economy, yield curves and equity markets.
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Multi-asset allocation views: Room to grow
The early part of a year gives investors an opportunity to take stock. Sunil Krishnan reflects on how the current environment is shaping our views for multi-asset portfolios.
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Multi-asset & multi-strategy team

Peter Fitzgerald
Chief Investment Officer, Multi-asset & Macro
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Ian Pizer
Head of Multi-Strategy Funds and Portfolio Manager, AIMS Target Return
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Sunil Krishnan
Head of Multi-Asset Funds
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Michael Grady
Head of Investment Strategy and Chief Economist
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Emma Halley
Head of Portfolio Construction and Risk
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Dhannjay Hirani
Head of Implementation, Multi-asset & Macro
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Jean-François Fosse, CAIA
Head of Multi-Asset, France
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Isabel Emo Capodilista
Head of Manager Research
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David Clott
Senior Portfolio Manager
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Edward Hutchings
Head of Rates
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Multi-asset & multi-strategy views

Multi-asset investing: The five big questions for 2023
16 Dec 2022
Sunil Krishnan looks back at 2022, and outlines what multi-asset investors should look out for in 2023.
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Multi-asset allocation views: How politics are influencing markets
22 Nov 2022
Political risk has returned with a vengeance in 2022. Sunil Krishnan discusses what this means for multi-asset portfolios.
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What does the data say? Politics and markets
11 Nov 2022
In this month’s instalment of our visual series on topical themes, we look at how political events have shaped markets in 2022 and further back in time.
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When the numbers don’t add up: UK learns painful lesson not to buck the market
8 Nov 2022
Governments around the world would do well to heed the lessons of recent chaotic events in Britain that concluded with Liz Truss becoming the country’s shortest-lived prime minister.
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Multi-asset allocation views: What high inflation means for portfolios
12 Oct 2022
Inflation has direct and indirect consequences for financial markets. Sunil Krishnan reflects on how multi-asset investors can mitigate them and find areas of resilience.
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Zero-COVID: China’s costly policy error
10 Aug 2022
Beijing’s ideological battle to stamp out COVID-19 appears increasingly misguided as the rest of the world learns to live with the virus. But the impact of China’s approach will be felt far beyond its borders.
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What does the data say? Are we close to 1970’s-style stagflation?
29 Jul 2022
In this month’s instalment of our visual series on topical themes, we look at whether the global economy is heading towards stagflation.
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Multi-asset allocation views: Is this the end of the 60/40 strategy?
20 Jul 2022
Government bonds have not acted as safe haven assets recently. Sunil Krishnan explores whether this spells the end of the traditional 60/40 allocation in multi-asset portfolios.
Read more

ESG investing: Lasting lessons from Russia’s war on Ukraine
23 Jun 2022
Russia’s invasion of Ukraine has led to ESG receiving widespread flak. While much of the criticism is unjustified, the episode underlines how many issues related to ESG are complex and involve trade-offs. Investment approaches may need fine tuning, especially if the geopolitical landscape continues to change so rapidly.
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Multi-asset allocation views: Central banks’ delicate balancing act
6 Jun 2022
With high levels of inflation persisting around the world, central banks must tighten policy without hurting consumer demand and economic growth. This will be more difficult for some central banks than others, says Sunil Krishnan.
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What does the data say? Where have the safe havens gone?
27 May 2022
In this month’s instalment of our visual series on topical themes, we look at how various asset classes are holding up in a turbulent year for financial markets.
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Is stagflation set to make an unwanted return?
18 May 2022
Surging inflation is leading to fears the world economy could be heading towards recession. While there are diverging views on whether we are entering a new era of stagflation, the medium-term growth-inflation trade off looks set to worsen with big implication for asset prices, argue Michael Grady and Peter Fitzgerald.
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What does the data say? Ukraine-Russia: The human and economic costs of war
29 Apr 2022
In this month’s instalment of our visual series on topical themes, we look at the far-reaching human and economic consequences of the Ukraine-Russian war.
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A new Cold War? What the Russia-Ukraine crisis means for globalisation and markets
28 Apr 2022
The world has become more volatile and unpredictable with Russia’s invasion of Ukraine. But while Vladimir Putin may have dealt globalisation another blow, China and the West will want to prevent the world splitting into two competing blocs.
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Multi-asset allocation views: Five lessons for investors during turbulent times
22 Apr 2022
From Russia’s invasion of Ukraine to surging inflation, risk has well and truly returned to markets in 2022. Sunil Krishnan offers useful insights for investors unaccustomed to such challenging times.
Read more

Economic volatility: The end of the Great Moderation?
6 Apr 2022
Russia’s invasion of Ukraine, following hot on the heels of the pandemic, could hasten the transition to a new, more volatile economic environment. That would have major ramifications for financial markets and investors, argues Michael Grady.
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