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Infrastructure

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Infrastructure is back at the top of the global asset-owner list. Cash is the swing factor.

Asset Owners

25 Sep 2026

Infrastructure is back at the top of the global asset-owner list. Cash is the swing factor.

The Marsh Global Asset Owner Barometer 2026, covering 430 owners with about US$5.8 trillion in assets, finds infrastructure the strongest net allocation intention for the coming year. Inflation-linked assets and emerging-market equities follow. Cash has flipped from net reduction plans to a clear net increase, restoring optionality after a year of tighter liquidity preferences.

The Spread Duration Trap: Institutional Asset Allocators Pivot Toward Defensive Infrastructure and Physical Real Assets

Opinion

4 Aug 2026

The Spread Duration Trap: Institutional Asset Allocators Pivot Toward Defensive Infrastructure and Physical Real Assets

As single-stock volatility surges rapidly underneath artificially calm index surfaces, prominent macroeconomic research directs multi-asset allocators to rotate liquidity out of crowded equity trades to secure downside protection. By shifting focus away from over-concentrated, tech-heavy public benchmarks, modern portfolios are prioritizing tangible structural sectors to navigate intensifying valuation dispersion.

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