BNY Investments Newton multi-asset managers Simon Nichols and Janice Kim tour the US, Europe, UK and China, pinpointing how each market’s nuances are shaping their multi-asset strategy positioning.

Newton Portfolio Manager and Quantitative Analyst Paul Byrne explains his path to investment management and the importance of multi-dimensional research against a backdrop of increasing concentration risks.

BNY Investments Newton’s Global Real Return portfolio manager, Lars Middleton, discusses the value of risk overlay strategies in an era of tightening market correlations and unprecedented idiosyncratic risks.

BNY Investments Newton head of mixed assets investment, Paul Flood, reflects on market trends and policies impacting the yield curve in bond markets and compares the nuance between the US and UK fiscal deficits.

We asked experts across three of our investment firms about the key themes that could be shaping the economy in the second half of 2025 and how they believe their asset classes may fare.

Decumulation in retirement has been described as “the nastiest, hardest, problem in finance”* . This may be true, but it is also one of the most interesting and important. Retirement assets account for around 60% of assets under advice** and are expected to grow further as the next generation of retirees become more reliant on invested solutions to support retirement income. With defined contribution pension assets expected to be nearing £1 trillion by 2030*** , the demand for support in turning those savings to income can only grow. So how do we generate what clients will need to sustain income in retirement?