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How top asset managers are finding new opportunities in uncertain markets

How top asset managers are finding new opportunities in uncertain markets

The Private Wealth Sessions at HSBC’s Global Investment Summit, held on 27 March 2025, attracted more than 600 attendees, offering individual investors, entrepreneurs and senior executives exclusive insights from globally influential and visionary experts, investment leaders and innovators. 

Uncertainty has been a defining feature of the investment landscape so far in 2025. Whether the result of geopolitical changes or technological disruptions, rapid shifts in sentiment have upended investor expectations and rocked markets. In the last insight article from the Private Wealth Sessions, we highlight the clear and upbeat messages from global asset managers about the significant investment opportunities present in today’s uncertain markets.

“Uncertainty certainly is there. Complexity is certainly there. But we think of complexity and uncertainty also as a different word, which is opportunity,” said Ali Dibadj, CEO of Janus Henderson Investors, in a discussion highlighting long-term megatrends such as demographics and lifestyle changes. “There are some things that are uncertain, but there are many things that are actually quite clear.”

For investors looking to capitalise on those opportunities, the Private Wealth Sessions offered informed insights into the potential of long-term trends with global implications. 

The universal appeal of health and technology

“One problem that all of you have is ageing,” said Dr Alex Zhavoronkov, Founder and CEO of Insilico Medicine, encouraging investors to look at healthcare and longevity as an avenue for growth, particularly as advancements in technology open the door to new market leaders.

Jean Hynes, CEO and Managing Partner of Wellington Management, also picked up on that same thread, explaining how medical treatments are changing dramatically. 

“You go back 50 years, there was only one modality of medicine. It was small pills,” she said. “Now in 2025, you have RNA, RNA interference, gene therapy, multiple antibodies, bispecific antibodies, antibody-drug conjugates, and the ability to go after all of biology.” 

Each of these new technologies is a potential new area for asset allocation. And just as technology is reshaping healthcare investments, it is also opening new commercial opportunities in other industries. 

Bob Smith, Principal at Right Hand Side Consulting Group and Former Chief Executive Officer at space technology firm Blue Origin, also highlighted the aerospace industry as a broadening investment opportunity. Space exploration, he said, is a USD560 billion industry that was previously off-limits to commercial investors. 

“There's a lot of intensity around this, and that's because the cost-profile economics have fundamentally shifted around how we get to space,” he said. 

Finding value in diversification

Amid the uncertainty that has buffeted global markets in early 2025, experienced investors are sticking to tried-and-true approaches, advocating a nimble, active approach to allocation and a diversified, long-term strategy. 

“If there's one message to remember from everything here, you should remember diversification,” said Jenny Johnson, President and CEO of Franklin Templeton. “There's always something that you never think of. The most resilient portfolio is a diversified portfolio.”

Jim Zelter, President of Apollo Global Management, emphasised the diversification benefits on offer in private markets, citing Warren Buffett’s substantial private holdings, including well-known brands like GEICO Insurance and Duracell batteries, as examples of differentiated returns. 

Public equity markets have become increasingly concentrated, which can stifle potential gains, he said. In contrast, most investors have not yet fully explored the breadth of the USD40 trillion private credit market. 

“What most people have invested in is private direct lending,” Zelter said. “Then the next frontier will be the large area of asset-based finance; that's lending against planes, inventory, aircraft, ships, other types of hard assets.”

Adding private assets into their portfolios, in Zelter’s estimation, offers investors not only earning potential but also resilience against public market volatility, underscoring again the importance of a diverse, multi-asset investment strategy.

The leading investors who shared their views at this year’s Private Wealth Sessions highlighted the importance of diversified, active, and trend-focused investment strategies. By understanding current megatrends and embracing uncertainties as opportunities, investors can be better informed to navigate today's uncertain financial landscape. 

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