Behind the Headlines: Decoding 2026’s Macro Regime Shifts
NS Partners Conference – Insights & Replay
We were delighted to welcome clients, partners and guests to our latest NS Partners investment conference, held recently at our Geneva offices. The event brought together investors and market participants for a morning of in-depth discussion focused on the macro regime shifts shaping markets in 2026 and the evolving role of hedge funds in capturing alpha within diversified portfolios.
As global markets transition into a more complex phase, the conference explored how investors can move beyond short-term headlines to identify durable sources of value. Through a series of presentations and a live panel discussion with Federico Riggio, Chief Investment Officer at Helikon Investments Ltd., the session provided valuable insights into navigating a rapidly shifting investment landscape.
Investors can explore more of our investment insights in the NS Partners Insights section
Understanding the Macro Regime Shifts Shaping 2026
The past few years have been dominated by a powerful narrative around artificial intelligence and technological disruption, which has driven market enthusiasm and elevated valuations across segments of the equity market. However, as 2026 begins, this environment is becoming more selective.
At the same time, the global macro backdrop is fragmenting. Diverging monetary policies, shifting trade dynamics and evolving fiscal priorities are creating distinct regional trajectories across major economies. In this environment, reacting to headlines is rarely sufficient.
Successful investing increasingly requires a disciplined, long-term framework capable of distinguishing market noise from underlying fundamentals.
Our conference explored why these developments may signal structural macro regime shifts, and how investors can adapt their portfolio construction to better navigate a world characterized by greater dispersion, volatility and opportunity.
Key Topics Covered at the NS Partners Conference
Outlook: Decoding 2026’s Macro Regime Shifts
Ángel Sanz, Chief Investment Officer at NS Partners, opened the conference with a macroeconomic perspective on the macro regime shifts transforming global markets in 2026.
His presentation examined how geopolitical realignment, fiscal expansion and structural inflation pressures are influencing asset prices. Ángel highlighted how these dynamics are increasing dispersion across regions, sectors and individual companies — creating both risks and opportunities for active investors.
In such an environment, portfolio resilience depends on flexibility, diversification and a disciplined investment process capable of navigating shifting market conditions.
For a deeper look at current market dynamics, you can also explore our latest macro outlook analysis.
Hedge Fund Investing in 2026: Seizing Alpha Opportunities
Caron Bastianpillai, Senior Portfolio Manager at NS Partners, then explored how hedge fund strategies can capture alpha in a market shaped by accelerating macro regime shifts and increasingly defined by dispersion.
As market leadership broadens and volatility rises, hedge funds can provide valuable tools for investors seeking both risk management and differentiated return sources. Strategies that combine fundamental research with active risk management may be particularly well positioned to exploit inefficiencies across asset classes and geographies.
Caron emphasized that hedge funds should not simply be viewed as alternative investments, but rather as strategic portfolio components capable of enhancing diversification and improving the overall risk-return profile of long-term portfolios. Investors interested in learning more about how these strategies fit within broader portfolio construction can explore our investment solutions.
In Conversation with Federico Riggio (Helikon Investments)
The conference concluded with a live conversation featuring Federico Riggio, Chief Investment Officer at Helikon Investments Ltd.
Widely respected for his disciplined and research-driven investment approach, Federico shared valuable perspectives drawn from years of navigating complex market cycles. The discussion covered topics including capital allocation, managing risk in uncertain environments and maintaining conviction during periods of market volatility.
The session offered attendees a rare opportunity to engage directly with one of the industry’s most experienced long-term investors and gain deeper insight into how disciplined investment frameworks can help identify opportunities across challenging market regimes.
Continuing the Conversation
Following the conference, guests joined us for a networking lunch, providing an opportunity to continue the discussion in a more informal setting and exchange perspectives on the evolving market environment.
Events such as this reflect our ongoing commitment to fostering meaningful dialogue with investors and sharing insights on the forces shaping global markets.
Replay and presentation Available
If you were unable to attend or would like to revisit the discussion, the conference replay is now available, along with the presentation slides.
DOWNLOAD THE NS PARTNERS PRESENTATION
For compliance reasons, the Helikon Presentation is not available for distribution.
We would like to warmly thank our speakers, contributors and guests for making this conference such a success. We look forward to welcoming you at our future events and continuing the conversation around the macro regime shifts shaping global markets and investment opportunities they create.
For any additional question please contact our Investor Relations Team.
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