2026 Allocation: Indosuez WM Bets on a World in Recalibration
As 2026 approaches, Indosuez Wealth Management offers a nuanced perspective on an overall favorable yet demanding global environment. The year could be characterized by continued monetary easing, the rise of emerging markets, and a wave of strategic investments in AI, energy, and infrastructure.
According to Alexandre Drabowicz, Chief Investment Officer at Indosuez Wealth Management, the Fed is expected to continue cutting interest rates in 2026, boosting an already favorable financial environment and putting downward pressure on the dollar. Global growth, supported by consumption and investment, should remain strong. This scenario underpins a decidedly positive stance on American, Asian, and emerging market stocks, with a renewed balance between active and passive management.
The performance observed in 2025 confirms Indosuez's five core messages: the resilience of the US economy, the driving role of AI and electrification, the rising influence of ASEAN amid Chinese reforms, and the relevance of well-diversified portfolios. The coming year is expected to extend these trends, with a general recalibration of economic balances.
Agentic AI, Electrification, and Infrastructure
After fifteen years of underinvestment, many companies are returning to large-scale projects. AI, particularly in its agentic or autonomous forms, is driving up spending across nearly all sectors. Simultaneously, electrification is becoming a matter of sovereignty as well as an industrial challenge, leading to significant investments in defense, transportation, and energy.
These structural transformations heighten interest in innovative SMEs, which are often more agile, as well as in real assets and infrastructures. Exposure to emerging markets is also justified by improved financial conditions: a weaker dollar makes credit more accessible, enhances the solvency of dollar-indebted companies, and boosts the appeal of local bonds.
In this context, Indosuez emphasizes the necessity of smart diversification. This involves prioritizing high-quality corporate bonds, gold as a stabilizing asset, and reduced dollar exposure. Following several years of strong performance by risky assets, the main challenge is to balance yield and resilience while maintaining the ability to rapidly respond to new opportunities, as 2026 might bring more positive surprises than anticipated.
This content has been automatically translated using artificial intelligence. While we strive for accuracy, some nuances may differ from the original French version.
