Perspectives

Abhishek Gupta, MSCI researcher who traces decades of market patterns; Christine Berg, MSCI index leader experienced in index design; Kristy Akullian, BlackRock strategist tracking ETF flows. They discuss market concentration and the rise of AI-linked mega caps. They explore unwinding home bias and growing international ETF flows. They cover index innovation, factor tools, and hidden geopolitical and supply-chain exposures.

Andrew DeMond, head of analytics research platform and governance at MSCI, focuses on model governance and AI in risk workflows. Hitendra Varsani, head of equity index R&D at MSCI, drives AI-powered index innovation. They discuss AI compressing workflows from weeks to minutes, agentic systems automating multi-step tasks, risks from model concentration, and the need to tie models to firm data for reliable, auditable outputs.

As he prepares to retire, MSCI President Baer Pettit reflects on 25 years of profound market change - from the rise of indexation and ETFs to globalization, private markets and AI - and considers how these structural shifts may shape portfolios and investor decision-making in the years ahead.

What happens when diversification stops working? As correlations shift and traditional assumptions break down, investors are turning to scenario analysis and stress testing. Thomas Verbraken and Monika Szikszai explain how these tools can help uncover vulnerabilities and prepare portfolios for "Triple-Red" market environments.

As sustainability grows noisier and more politicized, investors are being forced to look past the headlines and focus on fundamentals. Laura Nishikawa, Head of Emerging Risks R&D at MSCI, and Jenn-Hui Tan, Chief Sustainability Officer at Fidelity International, discuss the economic signals, climate risk and investor decisions shaping the transition.

Ashley Lester, Chief Research and Development Officer at MSCI, and Axel Kilian, Chief Client Officer, discuss crucial investment trends as markets approach 2026. They highlight the impact of geopolitics and the rising significance of AI investment. They emphasize that clients are seeking scenario frameworks over mere forecasts. The conversation also delves into concentration risks in portfolios and the growing interest in clean energy to support AI infrastructure. Finally, they compare the divergent strategies of the US and China in AI and energy sectors.

Markets are evolving faster than ever - uncertainty is rising, portfolios are becoming more complex and AI is reshaping how investment decisions are made. We bring together sharp insights from global investment and risk leaders on navigating today's shifting landscape: from new market dynamics and emerging risks to the growing move toward total-portfolio thinking. Whether you manage portfolios, advise clients or simply want to stay informed, hear what could shape the year ahead.

Christine Berg, Head of America's Index Products at MSCI, Peter Shepard, Global Head of Analytics R&D at MSCI, and Oliver Bunn from Goldman Sachs Asset Management dive into the evolution of tracking private equity returns. They discuss the barriers of liquidity and transparency, the importance of deep market data, and how roughly half of private equity outperformance can be attributed to public-market factors. With the launch of the MSCI World Private Equity Return Tracker, they explore how innovative ETFs can bring alternative investments into a more accessible framework.

Michelle Shanley, Global Head of Strategic and Key Accounts at MSCI, shares insights on the current investment landscape shaped by the great wealth transition. They discuss the rising demand for personalized, tech-driven solutions and the shifts in client preferences away from heavy U.S. exposure. The conversation explores gold's resurgence and China's stock market rally, alongside the ongoing impact of AI on U.S. market valuations. Shanley also addresses the challenges of democratizing private markets and the crucial need for investor education amid changing dynamics.

In this engaging discussion, Govinda Quish, Head of wealth product at MSCI, and April Rudin, Founder of The Rudin Group, tackle the great wealth transition reshaping the financial landscape. They explore how generational changes influence wealth management, emphasizing the need for tailored, tech-driven solutions. The duo also delves into market uncertainties and the rising importance of private assets. They highlight innovative approaches using AI and scenario analysis to enhance client experiences and meet evolving expectations.