Firm urges preparing for an extended period of higher inflation by diversifying globally and across asset classes, including private markets
2026 Second Half Prism
The &Partners Investment Team urges investors to prepare for elevated inflation and persistent geopolitical uncertainty. ·GlobeNewswire Inc.
Key takeaways:
&Partners’ Prism 2026 Second Half Outlook explains why investors shouldn’t count on any one type of investment to beat inflation.
The firm recommends holding diversified portfolios that include global equities, global fixed income, and a mix of private market investments, where appropriate.
Entering the second half of 2026, &Partners’ Investment Team has neutral outlooks on U.S. and international equities and somewhat favorable views on fixed income and alternatives.
ST. LOUIS, June 23, 2026 (GLOBE NEWSWIRE) — The &Partners Investment Team is urging investors to prepare for elevated inflation and persistent geopolitical uncertainty in the second half of 2026, according to the latest issue of its semiannual investment outlook, Prism. The team recommends maintaining diversified portfolios that include domestic and international equities, high-quality fixed income, and where appropriate, private market allocations to help manage inflation risk and support long-term financial goals.
“In an environment where inflation is dominating headlines, investors can be tempted to make big portfolio moves based on a single asset class or investment theme,” said Fredrik Axsater, senior member of the &Partners Investment Team. “Our analysis shows there is no single solution when investing for elevated inflation. We believe the best defense remains a truly diversified portfolio.”
Prism notes that while the U.S. economy has remained relatively resilient, inflation has moved sharply higher since February and is expected to stay above the Federal Reserve’s long-term target for years. The combination of inflationary pressures and geopolitical uncertainty creates a challenging environment for investors.
&Partners analyzed the performance of 10 asset classes during five extended periods with high inflation. The Investment Team found that no asset class provided failsafe inflation protection during those periods, but all asset classes historically beat inflation in some of them.
Perhaps most surprising, many assets commonly considered inflation hedges — including gold, commodities, TIPS — lagged by wide margins in some high-inflation periods. By contrast, cash and U.S. Treasuries, often considered vulnerable to high inflation, outgained it in three of the five periods under review.
Based on this and other research, the Investment Team offers three recommendations entering the second half of 2026:
Take a holistic approach to inflation management. Avoid relying on any single type of investment. Instead, build portfolios that help diversify across and within multiple asset classes, including equities, fixed income, and alternatives.
Maintain global equity exposure. Diversifying across U.S., international, and emerging markets can help manage inflation and other risks.
Consider diversified private market exposure. Private equity, private credit, and real assets may help manage inflation in different ways. Where appropriate, &Partners recommends building a portfolio across all three alternative asset classes.
“In today’s environment, the right question isn’t ‘What is the best inflation hedge?’ but rather ‘How do we build a portfolio prepared for a range of inflation outcomes?’” Axsater said. “That requires diversification across public and private markets, geographies, and investment strategies.”
Prism also includes commentary about investing in a high-inflation era from investment partners AllianceBernstein (public equities), DWS (real assets), Federated Hermes (cash), Invesco (fixed income), and StepStone (private equity and private credit).
Entering the second half of 2026, the &Partners Investment Team holds a neutral outlook on U.S. and international equities and a somewhat favorable view of fixed income and alternatives investments. The team encourages investors to avoid making abrupt portfolio changes based on short-term headlines and instead to work with their financial advisors to help ensure portfolios are appropriately diversified and aligned with long-term goals.
About &Partners Investment Team The &Partners Investment Team brings extensive experience, deep market knowledge, and a disciplined approach to managing capital. In keeping with our mission to bring institutional-quality research, analysis, and strategies to financial advisors and their clients, we make ourselves readily available to &Partners’ advisors. Our concierge orientation results in highly personalized investment advice that allows clients to better achieve their financial goals.
About &Partners &Partners is a rapidly growing, advisor-owned wealth management firm built for advisors seeking greater ownership, flexibility, and community. Founded by former Wells Fargo leaders and based in Nashville, Tennessee, and St. Louis, Missouri, the firm offers a hybrid model that combines competitive payouts with equity participation, institutional support, and access to a collaborative peer network. &Partners, founded in fall 2023, has grown rapidly to 117 practices and, as of May 31, 2026, approximately $57 billion in assets, by providing a platform where advisors can build lasting businesses on their terms without sacrificing service, scale, or culture. To learn more, visit andpartners.com.
The material has been prepared or is distributed solely for informational purposes and is not a solicitation or an offer to buy any security or instrument or to participate in any trading strategy. Please consult with your financial professional to determine what might be appropriate for your situation. Past performance is not indicative of future results. Investment and portfolio diversification is generally recommended to reduce the overall volatility of a portfolio, but diversification will not assure a gain or prevent a loss (especially in declining markets). Diversification is generally more effective to reduce volatility when a portfolio includes investments that are uncorrelated or negatively correlated with one another from a performance and investment risk standpoint. Historical correlation of investment performance correlation (or lack thereof) is, by its nature, backward looking and does not guarantee the correlation (or lack thereof) will continue or remain constant.
&Partners is the enterprise trade/marketing name for Ampersand Partners LLC, a Delaware limited liability company, and its subsidiary, &Partners, LLC, a Tennessee limited liability company registered with the U.S. Securities and Exchange Commission as a broker-dealer and investment adviser. Securities and investment advisory services offered through &Partners, LLC, member FINRA and SIPC.
Media contacts: Trevor Wade, &Partners, trevor.wade@andpartners.com, and Kate Ennis, DAI Partners PR, (301) 580-6726
