The coming year marks the beginning of a new chapter for BNP Paribas Asset Management. By combining the expertise of AXA Investment Managers and BNP Paribas Real Estate Investment Management, we will have created one of Europe’s leading asset managers.
The environment in which we begin this new chapter is complex and fast-moving, with four themes standing out that we believe have the potential to shape the decade ahead: geopolitics, demographics, innovation, and environment.
Our Investment Outlook 2026 captures that perspective. It explores how these global forces are reshaping markets, and where new sources of value – and risk – may emerge. Ultimately, our goal is not only to interpret change, but to help our investors navigate it with clarity, resilience, and purpose.
Sandro Pierri, Chief Executive Officer
BNP Paribas Asset Management and AXA Investment Managers
