Partner insight: 'Income is going to be harder to find and we're going to have to look harder for it'

Multi-asset investors are increasingly looking to alternative investments to provide defensiveness, says Henk-Jan Rikkerink

clock • 1 min read
Partner insight: 'Income is going to be harder to find and we're going to have to look harder for it'

With inflation levels high and interest rate increases on the horizon, investors are already considering their strategies.

Yet there is change coming over the longer term, too. Henk-Jan Rikkerink, Global Head of Solutions and Multi-Asset at Fidelity International, believes we are not only likely to see persistently higher levels of volatility over the next 10 years or so, but also lower returns.

"Despite some of the recent moves in markets, income is hard to find, it's going to be harder to find and we're going to have to look harder for it," he says. "At the same time, there's a greater need for income as more and more people head into retirement."

Rikkerink particularly highlights the need to evolve the defensive elements of these portfolios, adding more diverse building blocks and non-traditional assets.

"The notion that fixed income gives you defensiveness is under challenge," he says. "Whether it is alternative investment or private markets - the assets that go beyond simple equities and fixed income - you will need them to hit the client returns of the future."

Increasingly investors are looking to products such as commodities, gold and Chinese government bonds. For strategies that use private markets, greater attention is being paid to areas such as real estate and the use of private debt.

For more on the latest trends in multi-asset investing,  read "Multi-Asset: Moving With the Times", an exclusive guide from Fidelity International, complete your details below and the guide will be automatically emailed to you.

This post is funded by Fidelity International

More on Multi-Asset

Why multi-asset investors 'need that fixed income shield'

Why multi-asset investors 'need that fixed income shield'

'Strategy is key when it comes to fixed income allocations within model portfolios'

Raymond Backreedy
clock 15 December 2025 • 4 min read
Partner Insight: Fed rate cuts drive policy divergence as Central Banks chart different courses

Partner Insight: Fed rate cuts drive policy divergence as Central Banks chart different courses

As the Federal Reserve continues its rate-cutting cycle, a widening gap in monetary policy among major central banks is creating new dynamics for investors says Anthony Willis, Senior Economist in the Multi-Asset team at Columbia Threadneedle Investments.

Anthony Willis, Columbia Threadneedle Investments
clock 15 December 2025 • 5 min read
Partner Insight: Multi-asset that delivers on what is promised

Partner Insight: Multi-asset that delivers on what is promised

After eight years navigating volatile markets, the CT Universal MAP range has reached £5bn in assets under management. We speak to the advisers and planners who have adopted the range about what sets it apart – from active management at a low cost to its distinctive approach to risk and diversification.

Columbia Threadneedle Investments
clock 12 December 2025 • 5 min read

In-depth

The 'stark' impact of tax and pensions changes on special needs families

The 'stark' impact of tax and pensions changes on special needs families

Among hardest hit by ‘poorly consulted’ reforms

Jen Frost
clock 27 October 2025 • 8 min read
Reeves' rumoured ISA reforms risk 'harm' and diversification issues

Reeves' rumoured ISA reforms risk 'harm' and diversification issues

Concerns over rumoured £10k cash ISA cap and potential UK equity mandate

Sahar Nazir
clock 22 October 2025 • 5 min read
Rumoured Evelyn/RBC deal would turbocharge market share but large mergers 'notoriously complex'

Rumoured Evelyn/RBC deal would turbocharge market share but large mergers 'notoriously complex'

Sale ‘no surprise’ after Evelyn’s fund and professional services business offload

Isabel Baxter
clock 20 October 2025 • 6 min read