• All
  • Strategic views
  • Inflation
  • Private markets
  • Fixed income
  • Climate transition
  • Portfolio design
  • BlackRock Investment Institute
  • BlackRock Investment Institute

    New market regime, new approach

    We establish the ABCs of a new approach to building portfolios
  • Portfolio design

    Emerging markets financing the transition

    Emerging markets are pivotal to the global transition to a low-carbon economy, one of the five mega forces we see sweeping markets and economies. Learn more.
  • Climate transition

    Tracking the low-carbon transition

    The BlackRock Investment Institute Transition Scenario is our framework for tracking the low-carbon transition. Read about the opportunities it may bring.
  • Climate transition

    Climate-aware return assumptions

    We dig into how our assessment of the transition will impact asset returns and how our latest strategic views reflect our latest thinking.
  • Strategic views

    Positioning for higher macro and market volatility

    We lay out how our strategic asset views are positioned for a new regime of greater macroeconomic and market volatility.
  • Portfolio design

    Our framework for blending returns

    We have updated our analysis to include the Covid-19 period - a natural experiment to see what happened to manager returns through a risk selloff and rebound of unprecedented speed and size. The results reinforce our framework.
  • Strategic views

    What could go wrong?

    We see our themes persisting yet feel it is prudent to stress test our views to gauge just how different the outlook needs to be from our base case to shift our asset preferences.
  • Portfolio design

    Embracing uncertainty

    In this inaugural joint paper with GIC, we look into two approaches to incorporate uncertainty in portfolio construction to overcome the shortcomings of traditional portfolio methods.
  • Strategic views

    Getting granular

    We take a look at the strategic implications of our yield curve and sectoral views
  • Climate transition

    Launching climate-aware CMAs and portfolios

    We believe climate risk is investment risk. That is why we are incorporating it into our portfolio design, an integral part of a series of actions BlackRock is taking to prepare for a net-zero world.
  • Inflation

    A new playbook for higher inflation

    One important consequence of the joint monetary and fiscal policy revolution for strategic investment decisions is the potential for a more muted response of nominal yields to higher inflation – a break from the past patterns.
  • Climate transition

    Sustainability: The tectonic shift transforming investing

    A commonly held view is that a return sacrifice is needed when adopting sustainable investing. We disagree - and in fact believe the opposite is true.
  • Portfolio design

    Building strategic asset allocations

    We launch four, investor-specific strategic asset allocations that take into account our lower expected returns across asset classes, and each investor type’s typical objectives.
  • Portfolio design

    Multiple return pathways

    Our CMAs give a view of returns over an entire horizon - a term structure. Our use of uncertainty creates a range of potential return pathways.
  • Portfolio design

    Understanding uncertainty

    Building resilient, investor-specific portfolios requires a shift away from point estimates for returns. That is why we explicitly include uncertainty into our return projections.
  • Portfolio design

    Blending alpha and factor returns

    Blending alpha-seeking and index products has become more challenging as the number of indices has increased and factor strategies have emerged.
  • Private markets

    The core role of private markets

    Private markets play a core role in modern portfolios. We show how many institutional investors have room for relatively large allocations to private markets.
  • Fixed income

    Rethinking the role of government bonds

    Worries that interest rates in regions such as the euro area and Japan are hovering around what we perceive as their prevailing lower bound force a rethink of the starting point for government bond allocations.
  • Strategic views

    Readying for real resilience

    The Covid-19 shock turned on its head the economic trajectory that markets had priced in before the pandemic, precipitating an urgent need to revisit strategic asset allocation.

Capital market assumptions

Our capital market assumptions show our return expectations across asset classes.
Capital market assumptions