Asset Manager

This week’s overview of appointments and people transfers includes updates from European fund and asset management association Efama, EY Luxembourg, LuxReal, and Sygnum Bank.

Geopolitical risk returns as markets weigh Iran escalation, energy disruption and central bank caution following U.S. attacks on nuclear sites.

With traditional market dynamics breaking down and foreign holdings of U.S. assets at record highs, US fund houses Doubleline Capital and Pimco both warn that investors can no longer rely on the old dollar playbook.

2025 had barely begun when the euphoria of the previous year was gone for good. Geopolitical tensions, economic concerns and political conflicts dominate the financial markets—even if the stock markets have calmed down a little (at least for the time being) since the turbulent beginning of April. Super ManCo Universal Investment’s analysis shows how institutional investors are trying to cope with the new environment and which trends are evolving in their portfolios.

As artificial intelligence takes over functions once handled by offshore teams, asset managers and their services firms face a new frontier, one that blends automation gains with urgent ESG questions.

The tariffs announced by President Trump are accelerating an already ongoing reshoring trend. Companies are being forced to revise their strategies—and so are investors. Intermediaries stand to benefit, as do warehouse providers. According to Christoph Berger of DNCA (Luxembourg), investors would do well to focus on countries gaining ground in the reorganization of supply chains, but without letting import tariffs be their sole guide.

Morningstar this week compares Comgest to Carmignac as it highlights why strong culture, stability, and long-term focus define top-tier asset managers.

Robeco pioneers the use of agentic AI, as autonomous systems begin to disrupt how asset managers invest, decide, and execute.

The spectacular rally in Japanese equities appears to be over after many years of strong gains. Following years of underweight positioning, global investors have finally turned their attention to Japanese stocks, spurred by a recent aversion to U.S. equities—just as momentum is beginning to fade.

Agentic AI, a new class of artificial intelligence capable of autonomous decision-making, is beginning to reshape the asset management industry. Dutch investment firm Robeco is among the first to publicly test the technology, aiming to integrate AI systems that not only analyse markets but also can act on them.