Latest issue of Financial Investigator now online
This preface was originally written in Dutch. This is an English translation.
Remarkable resilience
In the first few months of 2026, the global economy showed remarkable resilience. Despite geopolitical tensions, policy uncertainty and rising energy prices, global growth remained relatively stable for the time being. This is striking, particularly against the backdrop of the war in the Middle East and the uncertainty surrounding Iran. The world is less dependent on oil than in previous decades, whilst three powerful waves of investment continue: artificial intelligence, the climate and energy transition, and the rearmament of Europe.
For Europe, this touches on a fundamental question. How can the continent stand more firmly on its own two feet in a world where the US appears to be a less reliable ally and Russia poses a continuing military threat? This question was central to our well-attended seminar ‘Europe’s Future at Stake’ on 13 April at the BIMhuis, a report on one of the panel discussions from which you will find in this edition. Energy security, defence, digital infrastructure and technological autonomy are no longer merely political themes, but also key investment issues.
At the same time, this edition also focuses explicitly on emerging markets. Precisely in times of geopolitical uncertainty and rising oil and gas prices, the question is how emerging markets are holding their own. Remarkably, emerging market equities have so far outperformed those from developed markets this year. But here too, nuance is required: emerging markets do not constitute a homogeneous investment category. Energy-importing countries, economies with weak currencies and countries with limited policy scope remain vulnerable to higher energy, food and financing costs.
In this edition, you will find reports from two round-table discussions in which experts shared their insights on emerging market debt and emerging market equities. Both discussions show that economic fundamentals are sound and that both asset classes offer strong diversification benefits.
The cover interview also focuses on diversification aspects. Else Bos and Donné Hendrick of IFM Investors discuss the role of infrastructure in portfolios, developments in the Dutch market and the way in which traditional infrastructure is increasingly converging with new infrastructure, such as data centres, digital networks and the energy transition.
This edition thus brings together several themes: the resilience of emerging markets, the strategic challenges facing Europe and the changing role of infrastructure in institutional portfolios.
I hope you enjoy reading!
Jolanda de Groot, Editor-in-Chief
Read the complete magazine online