Seven Questions for the CEO and CIO Agenda

The geo-economic map has shifted, the rules of investing are being rewritten, and the sources of value have changed. Institutions that succeed will be those that adapt by building portfolios that reflect where value is actually being created, strengthening risk management for a world defined by policy shocks and real-world constraints, and forming strategic partnerships that extend their reach and capabilities.

In an environment where returns have to be earned, the advantage will come from positioning, discipline and the ability to execute consistently over time. Seven questions can help frame that assessment.

Question one

If we rebuilt our portfolio today from first principles, would it look the same?

Without legacy allocations, asset-class labels or benchmark constraints, what exposures would we choose and which would we leave behind?

Question two

Are we diversifying by labels, or by underlying exposures?

Do our portfolios genuinely reduce risk, or are we still concentrated in the same dependencies (technology, energy, policy) across different geographies and asset classes?

Question three

Are we positioned where value is being created or where it is being realised?

To what extent are we accessing high-growth industries early versus relying on public markets to capture outcomes after the fact?

Question four

Does our portfolio reflect a multipolar world in practice, not just in theory?

Are we accessing differentiated sources of growth through local presence and partnerships, or are we relying on broad geographic exposure that may not translate into returns?

Question five

Are we selecting managers based on past performance or on their ability to deliver consistently at scale?

Do we have conviction in their investment “technology” – sourcing, underwriting, value creation and exit capability – across cycles?

Question six

Do we have a clear strategy for liquidity or are we relying on market conditions?

How do we plan for capital to be returned across different environments, and how do we construct the right deployment architecture (drawdown funds, evergreens, co-invest, directs) to match our needs?

Question seven

Are we equipped in practice to capture AI-driven value creation?

Not just through exposure to technology, but through the ability to back businesses (and partners) that can translate AI into measurable productivity and competitive advantage?

This article is adapted from a section of “The New Rules of Capital”, a report that considers how value is created, captured and compounded in a more complex world. Read the full report here.