Asset Allocator

Is Passive Investing still passive? 02.07.2026 24min

Why do professional investors increasingly avoid the phrase "passive investing"?Dan Caps, portfolio manager at Evelyn Partners, argues that modern index investing is anything but passive. From factor exposures and asset allocation to tactical implementation and disciplined rebalancing, today's portfolios are far more nuanced than many investors realise.In this episode of Asset Allocator, we explore how index investing has evolved, where managers can still add value and why the future may belong to portfolios that blend active and index approaches.Timestamps00:00 - Introduction and what do we call index investing?06:17 - Asset Allocation & Market Performance10:33 - Rebalancing & Market Volatility15:25 - Client Cost & Index Solutions20:03 - Index Concentration RisksThe Asset Allocator Podcast discusses the big issues in UK fund selection and how wealth managers are positioning their portfolios. Sign up to the newsletter. Hosted on Acast. See acast.com/privacy for more information.

Two shocks, one boom, and an investment multiverse 25.06.2026 15min

AI boom or bubble? Emerging markets comeback? And what do geopolitical shocks mean for investors in 2026? In this episode of the Asset Allocator podcast, FT Adviser editor Simoney Kyriakou sits down with Joe Little, Chief Strategist at HSBC Asset Management, to unpack the forces reshaping global markets.From geopolitical tensions and commodity volatility to China's manufacturing resurgence and the AI investment frenzy, Joe discusses whether AI stocks are entering bubble territory, why inflation may remain "spiky", and why investors may need to look beyond developed markets for future returns.Click here for more investment insights from HSBC Asset Management: Investment Insights | HSBC Asset ManagementTimestamps00:00 - Update on markets00:30 - Economic Shocks & Inflation04:42 - The AI Boom: Market Impact09:27 - Emerging & Frontier MarketsThe Asset Allocator Podcast discusses the big issues in UK fund selection and how wealth managers are positioning their portfolios. Sign up to the newsletter. Hosted on Acast. See acast.com/privacy for more information.

Lessons of history not always useful in active vs passive debate 18.06.2026 26min

Is passive investing making markets more concentrated? Will today's AI winners still exist in a decade? And why might cash be one of the most misunderstood assets in investing?In this episode of Asset Allocator, Nathan Sweeney, chief investment officer for multi-asset at Marlborough, joins Amina Zafar and David Thorpe to discuss how investing is changing in an era of artificial intelligence, social media and information overload.Nathan explains why the active versus passive debate remains relevant, why market concentration may not be the threat many investors believe it is, and why access to information is no longer an advantage for fund managers.He also discusses the rise of AI, the challenge of separating signal from noise, the impact of social media on investor behaviour, and why many investors misunderstand risk, inflation and the role of cash in a portfolio.The Asset Allocator Podcast discusses the big issues in UK fund selection and how wealth managers are positioning their portfolios. Sign up to the newsletter. Hosted on Acast. See acast.com/privacy for more information.

Currency hedging the key to protecting clients income 11.06.2026 31min

Financial advisers must hedge against currency risk if they want to truly protect their client’s income, explains Jason Da Silva, the director of global investment strategy at Arbuthnot Latham.Discussing the relevance of the dollar’s weakness for UK advisers and their clients, Da Silva highlighted the importance of currency management in both equity and fixed income portfolios.Also on this episode of Asset Allocator, why sticky inflation remains the biggest investment risk, whether the US dollar retains dominance and what IPOs and today's credit markets are signalling about risk appetite.The Asset Allocator Podcast discusses the big issues in UK fund selection and how wealth managers are positioning their portfolios. Sign up to the newsletter. Hosted on Acast. See acast.com/privacy for more information.

Emerging and developed market government bonds have "swapped places" 04.06.2026 27min

Bond and equity markets are sending very different signals. While stocks continue to rally on optimism around earnings and AI-driven growth, bond investors are grappling with inflation risks, geopolitical tensions and mounting government debt.In this episode of the Asset Allocator Podcast, Aamina Zafar and David Thorpe are joined by Henry Cobbe, head of research at Elston Consulting, to discuss whether investors need to rethink traditional portfolio construction.The conversation explores whether the classic 60/40 portfolio still works, why government bonds may no longer provide the diversification investors expect, and where income opportunities can be found in today’s markets. Cobbe also explains how inflation, energy shocks and geopolitical events are reshaping asset allocation decisions, and why investors may need to look beyond conventional approaches to build resilient portfolios.The Asset Allocator Podcast discusses the big issues in UK fund selection and how wealth managers are positioning their portfolios. Sign up to the newsletter. Hosted on Acast. See acast.com/privacy for more information.

Is 3% the new 2% when it comes to the UK’s inflation target? 28.05.2026 18min

On this week's Asset Allocator, Simoney Kyriakou is joined by Joe Little, chief strategist at HSBC Asset Management, to discuss the diverging opinion between economists and investors over the repercussions of the Iran conflict and what the closure and blockade of the Strait of Hormuz means for the global economy. Are investors simply ignoring the mood music?Alongside the Middle East conflict, Little and Kyriakou also discuss the mega trend that is refusing to give up: AI. Many have predicted a fundamental change to the way we live and work, while others say it is the dotcom bubble 2.0 – is the truth somewhere in the middle? Little also lays out what the high gilt yields means for your clients.Asset Allocator has made some changes; each week you can still get the same analysis and insight into asset management and asset managers, but you can now choose whether to listen or watch our episodes. Watch on Asset Allocator, Spotify or YouTube by following the links.Timestamps:00:00 - Why are economists and investors diverging on Iran?04:51 - UK gilt market & inflation challenges09:55 - Pension surpluses & gilt opportunities12:05 - AI hype & global growth outlookClick here for more investment insights from HSBC Asset Management: Investment Insights | HSBC Asset ManagementThe Asset Allocator Podcast discusses the big issues in UK fund selection and how wealth managers are positioning their portfolios. Sign up to the newsletter. Hosted on Acast. See acast.com/privacy for more information.

Achieving diversification in an age of uncertainty 21.05.2026 22min

There is still a free lunch in diversification, but investors just need to look a bit harder for it and reframe what that means, says David Aujila, multi-asset fund manager at Invesco. Aujla discusses what true diversification looks like with funds reporter Aamina Zafar and contributing editor David Thorpe.The Asset Allocator Podcast discusses the big issues in UK fund selection and how wealth managers are positioning their portfolios. Sign up to the newsletter. Hosted on Acast. See acast.com/privacy for more information.

Why income portfolios remain relevant in 2026 14.05.2026 23min

James Mee, co‑head of multi‑asset and director at W1M, joins funds reporter Aamina Zafar and contributing editor David Thorpe to discuss the latest developments in markets, and why income portfolios remain key to his firm's offering. The Asset Allocator Podcast discusses the big issues in UK fund selection and how wealth managers are positioning their portfolios. Sign up to the newsletter. Hosted on Acast. See acast.com/privacy for more information.

Why active fund management still has a role to play in portfolios 07.05.2026 20min

Cranley Macfarlane, head of bespoke private clients and deputy chief investment officer at Church House Investment Management, discusses how client needs are shifting, the use of in-house funds, and whether active management still has a meaningful role to play as passive investing continues to gain momentum, with funds correspondent Aamina Zafar and contributing editor David Thorpe. The Asset Allocator Podcast discusses the big issues in UK fund selection and how wealth managers are positioning their portfolios. Sign up to the newsletter. Hosted on Acast. See acast.com/privacy for more information.

Diversification is not a free lunch for investors 30.04.2026 21min

Industry veteran Dan Kemp, founder of Portfolio Thinking, discusses the challenges of diversification on the latest edition of the Asset Allocator podcast.The Asset Allocator Podcast discusses the big issues in UK fund selection and how wealth managers are positioning their portfolios. Sign up to the newsletter. Hosted on Acast. See acast.com/privacy for more information.

Inflation protection a major priority for Pictet’s multi-asset boss 23.04.2026 20min

Focused fixed income portfolios and European nominal bonds are important building blocks of Pictet’s investment strategy to beat inflation, says Shaniel Ramjee, co-head of multi-asset investments at Pictet Asset Management, who dives into the parts of the fixed income and equity markets he regards as attractive right now with Aamina Zafar, funds reporter, and David Thorpe, contributing editor at Asset Allocator.Ramjee also discusses corporate earrings in the US, as well as the market’s rapidly changing view on inflation as tensions between the US and Iran continue to unfold. He also delves deeper into the picks and shovels angle of backing infrastructure behind AI and defence. The Asset Allocator Podcast discusses the big issues in UK fund selection and how wealth managers are positioning their portfolios. Sign up to the newsletter. Hosted on Acast. See acast.com/privacy for more information.

Quilter WealthSelect boss: What 20 years in the MPS market has taught me 16.04.2026 31min

Stuart Clark, who jointly runs the WealthSelect range of model portfolios at Quilter, discusses markets and the lessons he has learned along the way with funds reporter Aamina Zafar and contributing editor David Thorpe.The Asset Allocator Podcast discusses the big issues in UK fund selection and how wealth managers are positioning their portfolios. Sign up to the newsletter. Hosted on Acast. See acast.com/privacy for more information.

RBC Brewin Dolphin: We have moved away from the 60/40 portfolio 09.04.2026 16min

David Hood, head of investment solutions at RBC Brewin Dolphin, discusses the traditional asset allocation approach and how his firm tries to do it differently, with contributing editor David Thorpe, and funds correspondent Aamina Zafar. The Asset Allocator Podcast discusses the big issues in UK fund selection and how wealth managers are positioning their portfolios. Sign up to the newsletter. Hosted on Acast. See acast.com/privacy for more information.

Why Isio have no government bonds in their MPS 02.04.2026 21min

At a time when most investors are chasing the next shiny thing, Isio portfolio manager Daniel Nielsen is dusting off an old classic and bringing asset-backed securities back into the conversation, with Asset Allocator's contributing editor David Thorpe, and editor of FT Adviser Simoney Kyriakou. The Asset Allocator Podcast discusses the big issues in UK fund selection and how wealth managers are positioning their portfolios. Sign up to the newsletter. Hosted on Acast. See acast.com/privacy for more information.

Why there are no safe havens left 26.03.2026 18min

David Coombs, head of multi-asset at Rathbones, discusses the ongoing market turbulence and the search for safe havens with Asset Allocator contributing editor David Thorpe and FT Adviser chief reporter Tara O'Connor. The Asset Allocator Podcast discusses the big issues in UK fund selection and how wealth managers are positioning their portfolios. Sign up to the newsletter. Hosted on Acast. See acast.com/privacy for more information.

How Fidelity think about risk in their new MPS 19.03.2026 33min

Caroline Shaw, who jointly runs the new model portfolio range at Fidelity, discusses how she hopes to stand out in a crowded market, and how she thinks about risk management at a time of elevated volatility in markets, with FT Adviser editor Simoney Kyriakou and Asset Allocator contributing editor David Thorpe.The Asset Allocator Podcast discusses the big issues in UK fund selection and how wealth managers are positioning their portfolios. Sign up to the newsletter. Hosted on Acast. See acast.com/privacy for more information.

Govt bonds ‘still the best safe haven and store of capital’ 12.03.2026 16min

James Klempster, Liontrust's deputy head of multi-asset, discusses portfolio construction at a time of severe market strife with FT Adviser's Tara O'Connor and Asset Allocator's contributing editor David Thorpe. The Asset Allocator Podcast discusses the big issues in UK fund selection and how wealth managers are positioning their portfolios. Sign up to the newsletter. Hosted on Acast. See acast.com/privacy for more information.

What 7IM means by rules-based investing 05.03.2026 17min

Shanti Kelemen, co-CIO of 7IM, discusses how her firm uses rules-based investing when creating portfolios and how those rules evolve in different market conditions.The Asset Allocator Podcast discusses the big issues in UK fund selection and how wealth managers are positioning their portfolios. Sign up to the newsletter. Hosted on Acast. See acast.com/privacy for more information.

Volatility means active management now increasingly attractive in US 26.02.2026 20min

Alex Harvey, senior portfolio manager at Momentum Global Investment Management, discusses the changing nature of allocations to US equities, his views on gold and alternative assets, and more, in the latest edition of the Asset Allocator podcast.The Asset Allocator Podcast discusses the big issues in UK fund selection and how wealth managers are positioning their portfolios. Sign up to the newsletter. Hosted on Acast. See acast.com/privacy for more information.

Why One Four Nine Group has cut its equity exposure by 5% 24.02.2026 17min

Bevan Blair, chief investment officer at One Four Nine Group discusses his recent decision to reduce the equity exposure across all client portfolios, why gold is not an investible asset class, and what he is looking for in an equity fund manager.The Asset Allocator Podcast discusses the big issues in UK fund selection and how wealth managers are positioning their portfolios. Sign up to the newsletter. Hosted on Acast. See acast.com/privacy for more information.