About Asset Allocation Report
Investing ultimately comes down to one decision: asset allocation. More than 80% of a portfolio’s risk and return is determined by it. Yet it remains one of the most complex, and often misunderstood—areas in investing.
The Asset Allocation Report makes asset allocation visible.
Every month, I read over sixty reports from banks, asset managers, and research houses. I extract the consensus and identify the arguments behind Overweight, Neutral, and Underweight positions across asset classes. You don’t just see the outcome—you see the reasoning.
Because in asset allocation, reasoning matters more than conviction.
I learned this firsthand after the tsunami in Japan. Within one day, my team had to decide: should we increase our allocation to Japan? We made a decision. But was it the right one? That moment reinforced something fundamental: every allocation decision is built on a chain of assumptions. My work is about making that chain visible.
Over the years, one new development became impossible to ignore: artificial intelligence.
AI is everywhere in finance. But when I looked closely, I rarely saw it embedded in actual asset allocation mandates or decision processes. That observation triggered a new line of research: where is AI truly influencing capital allocation—and where is it merely a narrative?
This newsletter now tracks both:
The global asset allocation consensus
The long-term expected returns landscape
And the real-world implementation of AI within institutional allocation processes
What you can expect:
• Monthly Consensus: structured overview of 25+ asset classes
• Quarterly Expected Return: long-term capital market assumptions
• AI & Allocation Signals: verified cases of AI impacting investment decisions
• Award-Winner Interviews: conversations with allocators who have delivered results
Clear, disciplined analysis. No hype. No jargon inflation.
About me
I’m Eelco Ubbels, founder and CEO of Alpha Research. I’ve worked in the investment industry since 1995 and founded Alpha Research in 2012, fully dedicated to asset allocation research for professional investors in the Benelux.
With this publication, I bring that same structured, independent approach to a global audience.
My conviction remains unchanged: inflation is structurally higher than the ultra-low levels of the past. Government spending and central bank balance sheets have reshaped the macro landscape. In an environment where savings rarely outpace inflation, investing is not optional, it is necessary.
Asset allocation is the discipline that makes investing sustainable.
This report exists to bring clarity to that discipline.
→ Free subscribers receive highlights and summaries.
→ Paid subscribers receive full access to Consensus, Expected Returns, and exclusive research.
That story makes all the difference.
