Reading across three finalists from the Asset Allocation Awards’ thirteen-strong panel this week, the debate isn’t about direction, it’s about which safe assets still deserve the label. Robeco cools on commodities. Amundi holds its ground on fixed income broadly. Candriam goes further, leaning into government bonds almost alone. All three, in their own way, are choosing quality over the crowd.
House View: Robeco
Robeco, finalist for the Asset Allocation Award, has gone flat on Commodities, putting it at odds with a Consensus rating the category Overwogen (net +22.58%, ranked 9th of 25). The reason is narrower than it looks: “We remain cautious but neutral on oil, unable to predict the likelihood of skirmishes between the US and Iran...” the house explains. Gold, a separate line, keeps climbing.
Multi-asset market outlook, September 2026↗
House View: Amundi
Amundi, finalist for the Fixed Income Award, keeps an overall positive rating on both Duration and Credit, against a Consensus that rates Bonds Onderwogen (net −28.2%, ranked 23rd of 25). “We remain mildly constructive on this asset class, in particular high-quality credit,” the house notes, favouring Global Investment Grade on an all-in yield basis. A more dovish Fed and ECB support the duration call.
Global Investment Views, September 2026↗
House View: Candriam
The most contrarian call this week belongs to Candriam, finalist for the Fixed Income Award: long Core European government bond duration, where the Consensus sits at Neutraal with just 22% overweight (net −18.52%, ranked 20th of 25). “The Iran war has led to an inflation-driven repricing... we focus on high quality, core-European AAA-rated sovereign bonds, which enjoy both fiscal and central bank credibility.”
Coffee Break, 7 September 2026↗
What It Means for the Consensus
Two of three finalists find something to like in fixed income, Amundi across duration and credit, Candriam narrowly in core European government bonds, even as the Consensus keeps Bonds Onderwogen (rank 23/25) and Government Bonds Neutraal (rank 20/25). Robeco stands apart: neutral on Commodities, where the Consensus stays Overwogen.