Podcasts about Financial Conduct Authority

Two forces appear to drive markets, as investors try to balance the risk from the ongoing Middle East conflict with the opportunity from AI. We look at how this divergence is playing out in economies, earnings growth and monetary policy, and outline how we have positioned our portfolios for this environment. Presented by Aymeric Forest CFA, Head of Investment Strategy. Hosted by Lauren Thys, Head Of Product & Marketing Content. This podcast is intended for professional investors, and must not be shared with a non-professional audience. Not for Retail distribution: This marketing communication is intended exclusively for Professional, Institutional or Wholesale Clients / Investors only, as defined by applicable local laws and regulation. Circulation must be restricted accordingly. This marketing communication is for informational purposes only and does not constitute investment research or financial analysis relating to transactions in financial instruments as per MIF Directive (2014/65/EU), nor does it constitute on the part of BNP PARIBAS ASSET MANAGEMENT Europe or its affiliated companies an offer to buy or sell any investments, products or services, and should not be considered as solicitation or investment, legal or tax advice, a recommendation for an investment strategy or a personalized recommendation to buy or sell securities. Due to its simplification, this document is partial and opinions, estimates and forecasts herein are subjective and subject to change without notice. There is no guarantee forecasts made will come to pass. Data, figures, declarations, analysis, predictions and other information in this document is provided based on our state of knowledge at the time of creation of this document. Whilst every care is taken, no representation or warranty (including liability towards third parties), express or implied, is made as to the accuracy, reliability or completeness of the information contained herein. Reliance upon information in this material is at the sole discretion of the recipient. This material does not contain sufficient information to support an investment decision. Issued in the UK by AXA Investment Managers UK Limited, which is authorised and regulated by the Financial Conduct Authority in the UK. Registered in England and Wales, No: 01431068. Registered Office: 22 Bishopsgate, London, EC2N 4BQ.

What does it really take to grow into leadership in data — especially if you didn't come from a traditional technical background? In this episode, Cecilia speaks with Lauren Dixon, Chief Data Officer at the Financial Conduct Authority, about building confidence, stepping into opportunities before feeling fully ready, and redefining what success in data leadership actually looks like. From studying history to leading large technology and data teams, Lauren shares how curiosity, communication, collaboration, and self-awareness have shaped her career far more than having the “perfect” background. Together, they explore imposter syndrome, leadership growth, mentorship, hiring beyond degrees, and the practical skills that truly help people stand out in data today. This is an honest and reassuring conversation for anyone who has ever questioned whether they are technical, experienced, or qualified enough to take the next step in their career.

Since lenders were ordered to repay billions to consumers who signed up to unfair car finance deals, millions of people have been sent adverts exhorting them to claim compensation through claims managers or law firms. But now the Financial Conduct Authority is to investigate the industry amid concerns of sharp practice and misleading marketing. Paul Lewis asks if the regulator has acted quickly enough to root out the rogue operators.And we hear from the serial switchers - those tempted by cash perks to change their bank accounts. Is it worth it?Presenter: Paul Lewis Reporters: Jo Krasner and Felicity Hannah Researcher: Catherine Lund Editor: Rob Cave Senior news editor: Sara Wadeson

Today's blockchain and crypto news Bitcoin is up slightly at $66,981 Ethereum is down slightly at $1,875 BNB is down slightly at $637 Binance is shutting down its centralized NFT service UK's Financial Conduct Authority warns clubs over crypto sponsors TapTools is winding down Learn more about your ad choices. Visit megaphone.fm/adchoices

Welcome to another Risky Women Radio Book Club Edition. In an era dominated by rapid AI disruption, intensifying social scrutiny, and relentless geopolitical shifts, compliance can no longer be treated as a mere back-office box-checking exercise. In this episode, host Kimberley Cole sits down with Natalie McManus-Barnett, co-author of How to Be a Chief Compliance Officer and founder of Innovate Compliance. Shifting the narrative away from dry, bureaucratic policy-pushing, Natalie brings a refreshing dose of "polite disruption" to the table. She shares her "Jungle Gym" journey from the Financial Conduct Authority to Citibank, introducing a masterclass on how to weave compliance directly into the DNA of corporate strategy, execution, and culture to turn risk management into a genuine competitive advantage.

Delays to transfers and confusing correspondence are just some of the reasons why the Financial Conduct Authority has turned its attention to bereaved clients.The FCA is reviewing how advisers and platforms handle bereaved customers, looking at service levels, fees and support offered.In an exclusive interview with FT Adviser, Kate Tuckley, head of department, consumer investments at the FCA, said the regulator was looking at processes from end to end in this space to improve client outcomes.The FTAdviser Podcast is designed to inform regulated UK advisers on a range of topics, covering investments, pensions, regulation and other key issues. Hosted on Acast. See acast.com/privacy for more information.

Hear from Prof. Tom Gosling, Director of the Initiative in Sustainable Finance at the London School of Economics (LSE), as we examine the limits of investor-led climate action, the realities of stewardship and engagement, and why finance may need a more pragmatic approach to the transition.  Over recent years, investors have been asked to play a central role in driving the net zero transition. Through targets, stewardship, portfolio commitments and engagement, the idea was that finance could help push the real economy towards decarbonization.  But what if that framing overstates what investors can realistically achieve? If real-world incentives are still misaligned, and if policy remains the primary driver of economic change, then investor climate action may need to become more focused, more realistic, and more honest about its limits.  That's why this episode will explore:  Why the current model of investor climate action has run into difficulty, particularly around targets and portfolio emissions;   What more effective stewardship might look like when it focuses on achievable, real-world impact rather than headline commitments;   And why asset owners, asset managers and risk professionals may need to rethink their roles as climate risk becomes more politically contested and physically material.   ----------------  To find out more about the Sustainability and Climate Risk (SCR®) Certificate, follow this link: https://www.garp.org/scr  For more information on climate risk, visit GARP's Global Sustainability and Climate Risk Resource Centre: https://www.garp.org/sustainability-climate  If you have any questions, thoughts, or feedback regarding this podcast series, we would love to hear from you at: climateriskpodcast@garp.com   ------------------  Today's Speaker  Professor Tom Gosling is Director of the Initiative in Sustainable Finance at the London School of Economics (LSE). He is also a member of the Financial Conduct Authority's Sustainable Finance Advisory Committee.  With more than 20 years' experience as a board adviser, including as a senior Partner at PwC where he established and led the firm's executive pay practice, he brings deep expertise across corporate governance, responsible investing, investor stewardship and sustainable finance.

This podcast is in German./ Dieser Podcast ist auf Deutsch. Zum Zeitpunkt der Aufnahme rückt eine Lösung des Konflikts im Nahen Osten näher, während die Ergebnisse für das erste Quartal überzeugend ausgefallen sind. Wir blicken auf eine mögliche Deeskalation und auf steigende Unternehmensgewinne durch die KI-Revolution. Präsentiert von David Schroeder, Head of Distribution AXA IM Select Germany, BNPP Asset Management und Achim Stranz, Kapitalmarktexperte und externer Berater. This podcast is intended for professional investors, and must not be shared with a non-professional audience. Not for Retail distribution: This marketing communication is intended exclusively for Professional, Institutional or Wholesale Clients / Investors only, as defined by applicable local laws and regulation. Circulation must be restricted accordingly. This marketing communication is for informational purposes only and does not constitute investment research or financial analysis relating to transactions in financial instruments as per MIF Directive (2014/65/EU), nor does it constitute on the part of BNP PARIBAS ASSET MANAGEMENT Europe or its affiliated companies an offer to buy or sell any investments, products or services, and should not be considered as solicitation or investment, legal or tax advice, a recommendation for an investment strategy or a personalized recommendation to buy or sell securities. Due to its simplification, this document is partial and opinions, estimates and forecasts herein are subjective and subject to change without notice. There is no guarantee forecasts made will come to pass. Data, figures, declarations, analysis, predictions and other information in this document is provided based on our state of knowledge at the time of creation of this document. Whilst every care is taken, no representation or warranty (including liability towards third parties), express or implied, is made as to the accuracy, reliability or completeness of the information contained herein. Reliance upon information in this material is at the sole discretion of the recipient. This material does not contain sufficient information to support an investment decision. Issued in the UK by AXA Investment Managers UK Limited, which is authorised and regulated by the Financial Conduct Authority in the UK. Registered in England and Wales, No: 01431068. Registered Office: 22 Bishopsgate, London, EC2N 4BQ.

Send us Fan Mail◆ Supranationals and agencies prepare to achieve the previously unthinkable ◆ Leveraged loans versus private credit and their effect on CLOs ◆ A new dawn for dollar covered bonds and UK equity market structureBond issuance from supranational and agency issuers is rampant. And not only are volumes high but the bonds are flying too, attracting large order books, being priced with little if any issue premium and then performing in the secondary market. There has been a notable resurgence in dollar issuance in particular, even as issuers price within a hair's breadth of US Treasury yields. That has set the market alight with chatter once more that an issuer could be about to price a bond through what is commonly held to be the most risk-free asset on the planet. We explain the dynamics at work and identify what deal from which issuer could achieve this milestone.At the lower end of the credit spectrum, borrowers are making choices between going to the private credit market for funding or the broadly syndicated leveraged loan market. We discuss the choices borrowers face and the implications for the collateralised loan obligation market.The dollar market hosted a rarity this week: a covered bond from a European bank. As investors look for alternative highly-rated securities in the currency to Treasuries, we investigate whether we will see much more covered bond issuance and what might drive or prevent it.Finally, we looked into what trade bodies are demanding of the Financial Conduct Authority from its consultation on the structure of UK equity markets. We examine their arguments for a consolidated tape and where trading should be encouraged to take place.Now read on:SSAs glow in sunshine of demand, pushing spreads ever closer to TreasuriesCredit quality diverges, with CLOs getting better names, private credit the restBawag's first dollar covered bond shines light on niche marketTrade bodies to FCA: leave trading alone but give us a great equities tape

Asia has often been viewed as a long-term growth story, but its role in global markets is becoming more immediate. The region now represents a significant share of global GDP and listed companies, while operating across distinct economic and policy cycles.In this episode of The Bid, Oscar Pulido speaks with Aarti Angara, Head of Global Product Solutions in Asia Pacific at BlackRock. They examine why Asia is gaining more attention from investors and how opportunities are developing across equities and fixed income.The conversation highlights the region's diversity across countries, sectors, and growth drivers. It also explores themes such as AI-related manufacturing, domestic consumption in emerging markets, Japan's shift in corporate behavior, and the role of Asian bond markets in diversificationKey moments in this episode:00:00 Introduction02:23 How Asia's scale is influencing its role in global portfolios04:20 Why policy and economic cycles differ across the region07:10 Why Japan's corporate and inflation dynamics are drawing attention08:36 Where AI-related manufacturing is concentrated10:20 How domestic consumption is developing in India and Southeast Asia12:47 How Asian fixed income behaves differently from developed markets14:35 How to Allocate in Asia17:42 Singapore Travel Tips18:50 Wrap Up and DisclosuresSources: Bloomberg May 12th 2026,

AD | This episode is sponsored by Wealthify. Most people think investing is about picking the right stocks. It is not. This week on The Wallet, Emilie Bellet (Vestpod) is joined by Jessie Kwok, Chief Investment Officer at Wealthify, to unpack what drives investment outcomes over time. They cover:Why asset allocation matters more than stock pickingHow to think about risk in a practical wayWhat shapes long-term portfolio performanceWhy staying invested is often the hardest partHow to build a portfolio you can stick to The information shared is for educational purposes only and is not financial advice. Wealthify makes investing simple by managing your investments for you. And if you deposit or transfer into their Stocks and Shares ISA, you could earn between £50 and £1,000 in cashback. Open your account at Wealthify.com. T&Cs and minimum investments apply. Registration closes on 31st May 2026. Cashback varies by total investment amount. With investing, your capital is at risk. Wealthify is authorised and regulated by the Financial Conduct Authority. Connect with VestpodSign up to The Edit newsletter: https://www.vestpod.com/subscribeCourses and bootcamps: https://www.vestpod.com/coursesFollow on Instagram: https://www.instagram.com/vestpodEmilie's book: You're Not Broke, You're Pre-Rich Hosted on Acast. See acast.com/privacy for more information.

In this episode of Why Invest? host Luke Hyde-Smith is joined by Alexandra Vidyuk, CEO and Founding Partner of Beyond Earth Ventures, to explore the growing importance of deep tech in today's investment landscape.Alexandra explains how deep tech – rooted in scientific breakthroughs across areas such as energy, compute, robotics and space – is shifting from niche to core, creating entirely new industries rather than simply enhancing existing ones.They discuss the realities of venture capital at the earliest stages, where identifying transformative ideas, strong founding teams and clear paths to commercialisation is key.The conversation also looks at the infrastructure of the future, and how declining costs and rapid technological progress are unlocking new commercial opportunities.If you would like further information about anything discussed in this episode, please do get in touch: whyinvest@w1m.com.This podcast is issued by W1M Wealth Management Limited which is authorised and regulated by both by the Financial Conduct Authority of 12 Endeavour Square, London E20 1JN, with firm reference number 120776 and the U.S. Securities and Exchange Commission of 100 F Street, NE Washington, DC 20549, with firm reference number 801-63787. Registered in England and Wales, Company Number 02080604.The information provided in this podcast is for information purposes only and W1M Wealth Management Limited does not accept liability for any loss or damage which may arise directly or indirectly out of use or reliance by the client, or anyone else, on the information contained in this recording. This podcast should be used as a guide only is based on our current views of markets and is subject to change.The information provided does not constitute advice and it should not be relied on as such. It should not be considered a solicitation to buy or an offer to sell a security. It does not take into account any investor's particular wealth management or investment objectives, strategies, tax status or investment horizon.All materials have been obtained from sources believed to be reliable, but its accuracy is not guaranteed. There is no representation or warranty as to the current accuracy of, nor liability for, decisions based on such information. Hosted on Acast. See acast.com/privacy for more information.

This podcast is in Italian./ Questo podcast è in italiano. Sebbene una piena risoluzione del conflitto in Medio Oriente resti incerta, i risultati del primo trimestre si sono rivelati solidi. Guardiamo a una possibile de-escalation e a un impulso agli utili derivante dalla rivoluzione dell'IA. Presentato dal Alessandro Tentori, Chief Investment Officer e Giorgio Civalleri, Senior Relationship Manager. This podcast is intended for professional investors, and must not be shared with a non-professional audience. Not for Retail distribution: This marketing communication is intended exclusively for Professional, Institutional or Wholesale Clients / Investors only, as defined by applicable local laws and regulation. Circulation must be restricted accordingly. This marketing communication is for informational purposes only and does not constitute investment research or financial analysis relating to transactions in financial instruments as per MIF Directive (2014/65/EU), nor does it constitute on the part of BNP PARIBAS ASSET MANAGEMENT Europe or its affiliated companies an offer to buy or sell any investments, products or services, and should not be considered as solicitation or investment, legal or tax advice, a recommendation for an investment strategy or a personalized recommendation to buy or sell securities. Due to its simplification, this document is partial and opinions, estimates and forecasts herein are subjective and subject to change without notice. There is no guarantee forecasts made will come to pass. Data, figures, declarations, analysis, predictions and other information in this document is provided based on our state of knowledge at the time of creation of this document. Whilst every care is taken, no representation or warranty (including liability towards third parties), express or implied, is made as to the accuracy, reliability or completeness of the information contained herein. Reliance upon information in this material is at the sole discretion of the recipient. This material does not contain sufficient information to support an investment decision. Issued in the UK by AXA Investment Managers UK Limited, which is authorised and regulated by the Financial Conduct Authority in the UK. Registered in England and Wales, No: 01431068. Registered Office: 22 Bishopsgate, London, EC2N 4BQ.

In Episode 189 of the Diary of a UK Stock Investor Podcast this week:- (00:00) Show Start Chris carries out a full deep dive of Align Technology Inc, including financial analysis, moat and pricing analysis. He also discusses how Align squares up against his ideal investment stock.  GET INVOLVED! Drop us a COMMENT on Spotify or Email Chris at the show on chris@chrischillingworth.com The Diary of a UK Stock Investor Podcast is a diary-style, educational podcast documenting Chris's long-term journey as a UK retail investor, with the personal goal of one day becoming a Stocks & Shares ISA millionaire. Each episode reflects on the realities of long-term investing, including lessons learned, mindset, decision-making, and progress along the journey. The show also features listener correspondence, discussion of general market news from UK and US stocks, and educational explanations of investing concepts drawn from real-world experience. From time to time, episodes may explore publicly available company financial statements to help listeners better understand how to read financial data and what different figures mean in practice. These discussions are for educational purposes only and are not intended to influence investment decisions. The podcast does not provide investment advice, personal recommendations, or guidance on what to buy or sell. Chris does not disclose specific investment transactions or encourage listeners to follow any particular strategy. Any views shared are personal reflections only and may change over time. All content is provided for general information and educational purposes and does not take into account individual financial circumstances. Investing involves risk, and listeners should always do their own research or seek advice from a Financial Conduct Authority authorised financial adviser before making investment decisions. New episodes are released EVERY Thursday! Contact the show at chris@chrischillingworth.com

Artificial intelligence (AI) is moving fast in pensions. In this special edition of Hymans Robertson On…, Dan McMahon is joined by Jo Darbyshire from Local Pensions Partnership Administration (LPPA), Ted Mackereth from Just Group and Scott Finnie from Hymans Robertson to explore what that means in practice.From AI-powered meeting minutes and query routing to faster software development, the conversation stays grounded in real use cases. It also looks at why member-facing AI is still rare, and what schemes can do to help members access their own data safely.The panel digs into the big blocker too: data quality. “Garbage in, garbage out” still applies, but AI adds new risks even when your data is right. Trustees may want to treat data quality like cybersecurity on the risk register.  They close with practical thoughts on governance, people and responsible use, so you can test ideas without losing human judgement and creativity.Hymans Robertson disclaimerThis podcast has been prepared by Hymans Robertson LLP, and is based upon our understanding of events as at release date. It is designed to be a general summary of topical investment matters and is not specific to the circumstances of any particular employer or pension scheme. The information contained in this podcast should not be construed as advice and not be considered as a substitute for specific advice as the information is generic in nature. Where a podcast refers to legal matters please note that Hymans Robertson is not qualified to provide legal opinion and therefore you may wish to obtain independent legal advice to consider any relevant law and/or regulation. Hymans Robertson LLP accepts no liability for errors or omissions. Your Hymans Robertson LLP consultant will be pleased to discuss matters raised in this podcast in greater detail. Guests views are separate to that of Hymans Robertson.The information provided in this broadcast is not financial advice. Past performance is not a guide to the future. Please note the value of investments, and income from them, may fall as well as rise. This includes but is not limited to equities, government or corporate bonds, derivatives and property, whether held directly or in a pooled or collective investment vehicle. Further, investments in developing or emerging markets may be more volatile and less marketable than in mature markets. Exchange rates may also affect the value of investments. As a result, an investor may not get back the full amount of the original investment. Past performance is not necessarily a guide to future performance. Hymans Robertson LLP is authorised and regulated by the Financial Conduct Authority and Licensed by the Institute and Faculty of Actuaries for a range of investment business activities.

Mega forces are reshaping portfolio opportunities over a strategic horizon of five years and beyond. Devan Nathwani, Portfolio Strategist at the BlackRock Investment Institute, explains how their latest manifestation is shifting where we take growth risk.General disclosure: This material is intended for information purposes only, and does not constitute investment advice, a recommendation or an offer or solicitation to purchase or sell any securities, funds or strategies to any person in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction. The opinions expressed are as of the date of publication and are subject to change without notice. Reliance upon information in this material is at the sole discretion of the reader. Investing involves risks. BlackRock does and may seek to do business with companies covered in this podcast. As a result, readers should be aware that the firm may have a conflict of interest that could affect the objectivity of this podcast.In the U.S. and Canada, this material is intended for public distribution.In the UK and Non-European Economic Area (EEA) countries: this is Issued by BlackRock Investment Management (UK) Limited, authorised and regulated by the Financial Conduct Authority. Registered office: 12 Throgmorton Avenue, London, EC2N 2DL. Tel:+ 44 (0)20 7743 3000. Registered in England and Wales No. 02020394. For your protection telephone calls are usually recorded. Please refer to the Financial Conduct Authority website for a list of authorised activities conducted by BlackRock.In the European Economic Area (EEA): this is Issued by BlackRock (Netherlands) B.V. is authorised and regulated by the Netherlands Authority for the Financial Markets. Registered office Amstelplein 1, 1096 HA, Amsterdam, Tel: 020 – 549 5200, Tel: 31-20- 549-5200. Trade Register No. 17068311 For your protection telephone calls are usually recorded.For Investors in Switzerland: This document is marketing material.In South Africa: Please be advised that BlackRock Investment Management (UK) Limited is an authorised Financial Services provider with the South African Financial Services Board, FSP No. 43288.In Singapore, this is issued by BlackRock (Singapore) Limited (Co. registration no. 200010143N). This advertisement or publication has not been reviewed by the Monetary Authority of Singapore. In Hong Kong, this material is issued by BlackRock Asset Management North Asia Limited and has not been reviewed by the Securities and Futures Commission of Hong Kong. In Australia, issued by BlackRock Investment Management (Australia) Limited ABN 13 006 165 975, AFSL 230 523 (BIMAL). This material provides general information only and does not take into account your individual objectives, financial situation, needs or circumstances. Before making any investment decision, you should assess whether the material is appropriate for you and obtain financial advice tailored to you having regard to your individual objectives, financial situation, needs and circumstances. Refer to BIMAL's Financial Services Guide on its website for more information. This material is not a financial product recommendation or an offer or solicitation with respect to the purchase or sale of any financial product in any jurisdictionIn Latin America: this material is for educational purposes only and does not constitute investment advice nor an offer or solicitation to sell or a solicitation of an offer to buy any shares of any Fund (nor shall any such shares be offered or sold to any person) in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the securities law of that jurisdiction. If any funds are mentioned or inferred to in this material, it is possible that some or all of the funds may not have been registered with the securities regulator of Argentina, Brazil, Chile, Colombia, Mexico, Panama, Peru, Uruguay or any other securities regulator in any Latin American country and thus might not be publicly offered within any such country. The securities regulators of such countries have not confirmed the accuracy of any information contained herein. The provision of investment management and investment advisory services is a regulated activity in Mexico thus is subject to strict rules. For more information on the Investment Advisory Services offered by BlackRock Mexico please refer to the Investment Services Guide available at www.blackrock.com/mx©2026 BlackRock, Inc. All Rights Reserved. BLACKROCK is a registered trademark of BlackRock, Inc. All other trademarks are those of their respective owners.BII0526-5496769-EXP0527

Graeme Reynolds, director of competition and interim director of insurance at the Financial Conduct Authority, takes centre stage in the latest Insurance Post Podcast, setting out the regulator's key priorities for the market. Hosted on Acast. See acast.com/privacy for more information.

If you're buying or selling internationally, there's a good chance you're losing money - without realising it.In this episode, Lawrence Bennett (UK Country Manager of WorldFirst) breaks down the hidden costs most founders overlook when scaling globally.We cover:- Why "convenience" is costing you margin- The double conversion trap- How FX impacts your bottom line- What founders should actually be doing insteadIf you're scaling internationally, this is something you need to understand early.NOTE:The views expressed in this podcast are those of the speakers and are provided for general informational purposes only. Nothing in this episode constitutes financial advice, investment advice, tax advice, or a recommendation to enter into any financial transaction.Foreign exchange (FX) products, including forward contracts, involve risk. You should seek independent professional advice before entering into any FX transaction.World First UK Limited is a UK registered limited company with company number 05022388 and is authorized by the Financial Conduct Authority ("FCA") as an Electronic Money Institution under the Electronic Money Regulations 2011 with FCA Firm Reference number 900508.

Women are often told the path to success is straightforward: be confident, negotiate harder, lean in, speak up.But what happens when women do all of those things and still do not receive the same outcomes?This week on The Wallet, Emilie Bellet (Vestpod) speaks with Stefanie O'Connell about ambition, work, money, and the hidden costs many women still face professionally and personally.They discuss:why negotiation advice alone is not enoughthe backlash women can face when expressing ambitionburnout, invisible labour, and emotional loadhow inequality is reinforced through systems and expectationswhat financial independence and success can really look like for women todayThe information shared is for educational purposes only and is not financial advice.AD | This episode is sponsored by Wealthify.Wealthify makes investing simple by managing your investments for you. And if you deposit or transfer into their Stocks and Shares ISA, you could earn between £50 and £1,000 in cashback. Open your account at Wealthify.com. T&Cs and minimum investments apply. Registration closes on 31st May 2026. Cashback varies by total investment amount. With investing, your capital is at risk. Wealthify is authorised and regulated by the Financial Conduct Authority.ResourcesOrder The Ambition PenaltyWebsite: Too AmbitiousInstagram: @stefanieoconnellLinkedIn: Stefanie O'ConnellConnect with VestpodSign up to The Edit newsletter: https://www.vestpod.com/subscribeCourses and bootcamps: https://www.vestpod.com/coursesFollow on Instagram: https://www.instagram.com/vestpodEmilie's book: You're Not Broke, You're Pre-Rich Hosted on Acast. See acast.com/privacy for more information.

Behavioural science is changing how people make pension decisions, and in this special edition of Hymans Robertson On..., Kathryn Fleming is joined by Dr Hayley James, Jenny Hazan, Emily Trant and Dilara Uyduran to explore what that means in practice.Recorded live at our 2026 Pensions and Retirement Conference, the panel examines how behavioural economics can sharpen member decision-making. From personalised nudges to the realities of engagement and the power of thoughtful design.They also consider the implications for trustees and boards, leaving listeners with actionable ideas to test and apply in their own schemes.If you'd like to follow up on anything discussed, please don't hesitate to get in touch. Hymans Robertson disclaimerThis podcast has been prepared by Hymans Robertson LLP, and is based upon our understanding of events as at release date. It is designed to be a general summary of topical investment matters and is not specific to the circumstances of any particular employer or pension scheme. The information contained in this podcast should not be construed as advice and not be considered as a substitute for specific advice as the information is generic in nature. Where a podcast refers to legal matters please note that Hymans Robertson is not qualified to provide legal opinion and therefore you may wish to obtain independent legal advice to consider any relevant law and/or regulation. Hymans Robertson LLP accepts no liability for errors or omissions. Your Hymans Robertson LLP consultant will be pleased to discuss matters raised in this podcast in greater detail. Guests views are separate to that of Hymans Robertson.The information provided in this broadcast is not financial advice. Past performance is not a guide to the future. Please note the value of investments, and income from them, may fall as well as rise. This includes but is not limited to equities, government or corporate bonds, derivatives and property, whether held directly or in a pooled or collective investment vehicle. Further, investments in developing or emerging markets may be more volatile and less marketable than in mature markets. Exchange rates may also affect the value of investments. As a result, an investor may not get back the full amount of the original investment. Past performance is not necessarily a guide to future performance. Hymans Robertson LLP is authorised and regulated by the Financial Conduct Authority and Licensed by the Institute and Faculty of Actuaries for a range of investment business activities.

In Episode 188 of the Diary of a UK Stock Investor Podcast this week:- (00:00) Show Start Chris talks about the pros and cons of investing in overpriced growth stocks as well as investing into fairly priced value stocks.  GET INVOLVED! Drop us a COMMENT on Spotify or Email Chris at the show on chris@chrischillingworth.com The Diary of a UK Stock Investor Podcast is a diary-style, educational podcast documenting Chris's long-term journey as a UK retail investor, with the personal goal of one day becoming a Stocks & Shares ISA millionaire. Each episode reflects on the realities of long-term investing, including lessons learned, mindset, decision-making, and progress along the journey. The show also features listener correspondence, discussion of general market news from UK and US stocks, and educational explanations of investing concepts drawn from real-world experience. From time to time, episodes may explore publicly available company financial statements to help listeners better understand how to read financial data and what different figures mean in practice. These discussions are for educational purposes only and are not intended to influence investment decisions. The podcast does not provide investment advice, personal recommendations, or guidance on what to buy or sell. Chris does not disclose specific investment transactions or encourage listeners to follow any particular strategy. Any views shared are personal reflections only and may change over time. All content is provided for general information and educational purposes and does not take into account individual financial circumstances. Investing involves risk, and listeners should always do their own research or seek advice from a Financial Conduct Authority authorised financial adviser before making investment decisions. New episodes are released EVERY Thursday! Contact the show at chris@chrischillingworth.com

What does the “market balance sheet” for US equities look like? Jason Trennert, Chairman and Chief Executive Officer of Strategas Research Partners, weighs up the key assets and liabilities for investors today, from powerful earnings growth and AI-driven productivity gains to the headwinds from inflation, higher rates and geopolitics.Jason also explains why themes such as populism, deglobalisation and rising defence spending may keep underlying inflation and long-term interest rates higher than many investors expect – and what that could mean for assets. Plus, there is a look ahead to the coming wave of mega-cap initial public offerings, including SpaceX, and explore how these listings might affect global equity markets and the dominance of the US in world indices.Our host, Moz Afzal:https://bit.ly/31XbkTROur guest:Jason Trennerthttps://bit.ly/4wo2CexEFGAM:https://www.newcapital.com/Important disclaimersThe value of investments and the income derived from them can fall as well as rise, and past performance is no indicator of future performance. Investment products may be subject to investment risks involving, but not limited to, possible loss of all or part of the principal invested. This document does not constitute and shall not be construed as a prospectus, advertisement, public offering or placement of, nor a recommendation to buy, sell, hold or solicit, any investment, security, other financial instrument or other product or service. It is not intended to be a final representation of the terms and conditions of any investment, security, other financial instrument or other product or service. This document is for general information only and is not intended as investment advice or any other specific recommendation as to any particular course of action or inaction. The information in this document does not take into account the specific investment objectives, financial situation or particular needs of the recipient. You should seek your own professional advice suitable to your particular circumstances prior to making any investment or if you are in doubt as to the information in this document.Although information in this document has been obtained from sources believed to be reliable, no member of the EFG group represents or warrants its accuracy, and such information may be incomplete or condensed. Any opinions in this document are subject to change without notice. This document may contain personal opinions which do not necessarily reflect the position of any member of the EFG group. To the fullest extent permissible by law, no member of the EFG group shall be responsible for the consequences of any errors or omissions herein, or reliance upon any opinion or statement contained herein, and each member of the EFG group expressly disclaims any liability, including (without limitation) liability for incidental or consequential damages, arising from the same or resulting from any action or inaction on the part of the recipient in reliance on this document.The availability of this document in any jurisdiction or country may be contrary to local law or regulation and persons who come into possession of this document should inform themselves of and observe any restrictions. This document may not be reproduced, disclosed or distributed (in whole or in part) to any other person without prior written permission from an authorised member of the EFG group.This document has been produced by EFG Asset Management (UK) Limited for use by the EFG group and the worldwide subsidiaries and affiliates within the EFG group. EFG Asset Management (UK) Limited is authorised and regulated by the UK Financial Conduct Authority, registered no.7389746. Registered address: EFG Asset Management (UK) Limited, 116 Park Street, London W1K 6AP, United Kingdom, telephone +44 (0)207 491 9111.Independent Asset Managers: in case this document is provided to Independent Asset Managers (“IAMs“), it is strictly forbidden to be reproduced, disclosed or distributed (in whole or in part) by IAMs and made available to their clients and/or third parties. By receiving this document IAMs confirm that they will need to make their own decisions/judgements about how to proceed and it is the responsibility of IAMs to ensure that the information provided is in line with their own clients' circumstances with regard to any investment, legal, regulatory, tax or other consequences. No liability is accepted by EFG for any damages, losses or costs (whether direct, indirect or consequential) that may arise from any use of this document by the IAMs, their clients or any third parties.If you have received this document from any affiliate or branch referred to below, please note the following:Australia: This document has been prepared and issued by EFG Asset Management (UK) Limited, a private limited company with registered number 7389746 and with its registered office address at 116 Park Street, London W1K 6AP (telephone number +44 (0)207 491 9111). EFG Asset Management (UK) Limited is regulated and authorized by the Financial Conduct Authority No. 536771. EFG Asset Management (UK) Limited is exempt from the requirement to hold an Australian financial services licence in respect of the financial services it provides to wholesale clients in Australia and is authorised and regulated by the Financial Conduct Authority of the United Kingdom (FCA Registration No. 536771) under the laws of the United Kingdom which differ from Australian laws.ASIC Class Order CO03/1099EFG Asset Management (UK) Limited notifies you that it is relying on the Australian Securities & Investments Commission (ASIC) Class Order CO03/1099 (Class Order) exemption (as extended in operation by ASIC Corporations (Repeal and Transitional Instrument 2016/396) for UK Financial Conduct Authority (FCA) regulated firms which exempts it from the requirement to hold an Australian financial services licence (AFSL) under the Corporations Act 2001 (Cth) (Corporations Act) in respect of the financial services we provide to you.The financial services that we provide to you are regulated by the FCA under the laws and regulatory requirements of the United Kingdom which are different to Australia. Consequently any offer or other documentation that you receive from us in the course of us providing financial services to you will be prepared in accordance with those laws and regulatory requirements. The UK regulatory requirements refer to legislation, rules enacted pursuant to the legislation and any other relevant policies or documents issued by the FCA.Your Status as a Wholesale ClientIn order that we may provide financial services to you, and for us to comply with the Class Order, you must be a ‘wholesale client' within the meaning given by section 761G of the Corporations Act. Accordingly, by accepting any documentation from us prior to the commencement of or in the course of us providing financial services to you, you:• warrant to us that you are a ‘wholesale client';• agree to provide such information or evidence that we may request from time to time to confirm your status as a wholesale client;• agree that we may cease providing financial services to you if you are no longer a wholesale client or do not provide us with information or evidence satisfactory to us to confirm your status as a wholesale client; and• agree to notify us in writing within5 business days if you cease to be a ‘wholesale client' for the purposes of the financial services that we provide to you.Bahamas: EFG Bank & Trust (Bahamas) Ltd. is licensed by the Securities Commission of the Bahamas pursuant to the Securities Industry Act, 2011 and Securities Industry Regulation...

U.S. stocks are hitting record highs even as disruptions in the Strait of Hormuz weigh on global supply chains. Ehsan Khoman, Economist at the BlackRock Investment Institute, explains why we think markets are pricing in both an AI-driven earnings boost and the impact of those disruptions — not signaling a disconnect. General disclosure: This material is intended for information purposes only, and does not constitute investment advice, a recommendation or an offer or solicitation to purchase or sell any securities, funds or strategies to any person in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction. The opinions expressed are as of the date of publication and are subject to change without notice. Reliance upon information in this material is at the sole discretion of the reader. Investing involves risks. BlackRock does and may seek to do business with companies covered in this podcast. As a result, readers should be aware that the firm may have a conflict of interest that could affect the objectivity of this podcast.In the U.S. and Canada, this material is intended for public distribution.In the UK and Non-European Economic Area (EEA) countries: this is Issued by BlackRock Investment Management (UK) Limited, authorised and regulated by the Financial Conduct Authority. Registered office: 12 Throgmorton Avenue, London, EC2N 2DL. Tel:+ 44 (0)20 7743 3000. Registered in England and Wales No. 02020394. For your protection telephone calls are usually recorded. Please refer to the Financial Conduct Authority website for a list of authorised activities conducted by BlackRock.In the European Economic Area (EEA): this is Issued by BlackRock (Netherlands) B.V. is authorised and regulated by the Netherlands Authority for the Financial Markets. Registered office Amstelplein 1, 1096 HA, Amsterdam, Tel: 020 – 549 5200, Tel: 31-20- 549-5200. Trade Register No. 17068311 For your protection telephone calls are usually recorded.For Investors in Switzerland: This document is marketing material.In South Africa: Please be advised that BlackRock Investment Management (UK) Limited is an authorised Financial Services provider with the South African Financial Services Board, FSP No. 43288.In Singapore, this is issued by BlackRock (Singapore) Limited (Co. registration no. 200010143N). This advertisement or publication has not been reviewed by the Monetary Authority of Singapore. In Hong Kong, this material is issued by BlackRock Asset Management North Asia Limited and has not been reviewed by the Securities and Futures Commission of Hong Kong. In Australia, issued by BlackRock Investment Management (Australia) Limited ABN 13 006 165 975, AFSL 230 523 (BIMAL). This material provides general information only and does not take into account your individual objectives, financial situation, needs or circumstances. Before making any investment decision, you should assess whether the material is appropriate for you and obtain financial advice tailored to you having regard to your individual objectives, financial situation, needs and circumstances. Refer to BIMAL's Financial Services Guide on its website for more information. This material is not a financial product recommendation or an offer or solicitation with respect to the purchase or sale of any financial product in any jurisdictionIn Latin America: this material is for educational purposes only and does not constitute investment advice nor an offer or solicitation to sell or a solicitation of an offer to buy any shares of any Fund (nor shall any such shares be offered or sold to any person) in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the securities law of that jurisdiction. If any funds are mentioned or inferred to in this material, it is possible that some or all of the funds may not have been registered with the securities regulator of Argentina, Brazil, Chile, Colombia, Mexico, Panama, Peru, Uruguay or any other securities regulator in any Latin American country and thus might not be publicly offered within any such country. The securities regulators of such countries have not confirmed the accuracy of any information contained herein. The provision of investment management and investment advisory services is a regulated activity in Mexico thus is subject to strict rules. For more information on the Investment Advisory Services offered by BlackRock Mexico please refer to the Investment Services Guide available at www.blackrock.com/mx©2026 BlackRock, Inc. All Rights Reserved. BLACKROCK is a registered trademark of BlackRock, Inc. All other trademarks are those of their respective owners.BII0526-5475046-EXP0527

Retirement systems are undergoing a structural shift as traditional pensions decline and individuals take on greater responsibility for financial outcomes. Longer lifespans and evolving capital markets are making retirement planning more complex and consequential.Oscar Pulido speaks with Nick Nefouse, Global Head of Retirement Solutions at BlackRock. They discuss how defined contribution plans, target date funds, and regulatory changes are reshaping how individuals save, invest, and prepare for retirement.The conversation explores how retirement is moving from a focus on accumulation to income generation, particularly during the “retirement window.” It also highlights how global systems are converging toward similar models, and how innovation—across portfolio construction, private markets, and guaranteed income—is influencing long-term outcomes.Key insights:· How the shift from pensions to defined contribution plans is changing investor responsibility· Why longevity is reshaping retirement timelines and financial planning needs· How target date funds are simplifying access to capital markets for individuals· What the “retirement window” reveals about diverging investor outcomes· Where global retirement systems are converging despite regional differences· How income generation is becoming central to retirement portfolio design

FOLLOW UP: MORE APPEAL AGAINST FCA RULINGFollowing the deadline passing for appealing against the Financial Conduct Authority's (FCA) plans for compensation following the car finance industry breaking the law, there are now three lenders fighting back. Mercedes-Benz Financial Services join VW Financial Servcices and CA Auto Finance. The companies have declined to clarify to the public why they have made the move. To find out more, click this link from MoneySavingExpert.TOYOTA SUPPLIERS HIT BY IRAN CRISISToyota has announced that their suppliers have already begun to state they are feeling the effect of the Iran crisis with warnings that parts will not be delivered at the time expected. Toyota and their suppliers have already downgraded their expectations on 2026 production numbers. Click this CBT News article link here for more.LAMBORGHINI GETS A NEW CTOFermín Soneira is leaving heading up of AUDI, the Chinese only off-shoot of Audi, to take up the role as Chief Technology Officer for Lamborghini. Fred Schulze will replace Soneira. For more on this story, click the electrive article link here.EV CHARGING GRID VULNERABILITY DEMONSTRATEDAt BlackHat Asia, a large cybersecurity and research conference, the vulnerable nature of EV charging networks and shared e-bikes was demonstrated. Companies are being accused of putting customer convenience ahead of security. One possible scenario is the ability to remotely disable an entire city's EV charging network. You can learn more by clicking this link, from The Register, here.MG TO BUILD CARS IN SPAINMG has chosen Spain as the location for their European car factory, over Hungary. By doing this they should avoid any tariffs or agreed minimum price requirements that are to apply with cars coming to Europe from China. Click this EVPowered article link here, to read more.HONGQI IN TALKS WITH STELLANTIS ABOUT SPANISH FACTORYThe Chinese car maker, Hongqi, is in discussions with Stellantis about using capacity at their Spanish factory to build their cars in Europe, also taking advantage of avoiding extra financial penalties. Both parties are tight lipped on the matter. If you wish to find out more, click this Carscoops article link here.AUDI RECALLING 96,000 CARS WORLDWIDEAudi is recalling 96,180 e-tron quattros and Q8 e-trons, due to a potential brake issue. The fault is a lose screw that may prevent full braking ability in cars built from the 2 February 2018 until 11 June 2024. To read more, click this electrive article link here.If you like what we do, on this show, and think it is worth a £1.00, please consider supporting us via Patreon. Here is the link to that CLICK HERE TO SUPPORT THE PODCASTNEW NEW CAR NEWS -Freelander 8JRL and Chery have revealed their first concept from their joint-venture for the Freelander brand. Unsurprisingly, this is an electric SUV with a hint or two of the original Freelander and some of the JLR back catalogue. Initially this will be launched in China but then to other international markets, including the UK. We don't really know much about the specs or what the final look will be. Click this Autocar article link to learn more.For information on timings of the Freelander hitting markets outside of China, click this EV Powered article link here.BMW 7 SeriesBMW have given the 7 Series a facelift. Specs have improved with a longer range possible. The interior has also had a spruce up. For more on this, click this Autocar link here.Old Car Dead News: GWM Ora 03The car formally known as the GWM Ora Funky Cat is no longer going to be sold in the UK. Never a big seller, whether it was the looks or name that put people off. GWM is reviewing their strategy in the UK and are looking to bring more offerings here. Click this electrive article link here for more.LUNCHTIME READ: COMPETING CARS FROM THE SAME DESIGNERNot big enough to be a List of the Week it is still a fab article to have a read through and check out some designer's work where they competed against their own designs. Click here to read the Hagerty article.LIST OF THE WEEK: 23 SPACE INSPIRED CAR NAMESClassic & Sports Car provide the slideshow this week, all around the theme of space related car names. Click this link here to see if you agree with the choices made on the show. Thank you to listener, Damien Scully for sending the link our way, very much appreciated.AND FINALLY: HOW TO DRIVE IN JAPAN FROM THE MIDLANDSThe racing game Forza Horizon 6 is about to launch on the Xbox and PC, with Playstation following later in the year. This iteration is set on the roads of Japan and include a lot of JDM cars. In a collaboration with the British Motor Museum there will be a Horizon Festival on 23 May 2026 on site, where there will be live music, food trucks, gaming vans (to try out the game) and drifting demonstrations. Click this Motoring Research article to find out more, including how to book your tickets.

U.S. stocks are hitting record highs despite ongoing Middle East supply disruptions. Natalie Gill, Senior Portfolio Strategist at the BlackRock Investment Institute, explains what's driving their outperformance and why it's keeping us risk-on .General disclosure: This material is intended for information purposes only, and does not constitute investment advice, a recommendation or an offer or solicitation to purchase or sell any securities, funds or strategies to any person in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction. The opinions expressed are as of the date of publication and are subject to change without notice. Reliance upon information in this material is at the sole discretion of the reader. Investing involves risks. BlackRock does and may seek to do business with companies covered in this podcast. As a result, readers should be aware that the firm may have a conflict of interest that could affect the objectivity of this podcast.In the U.S. and Canada, this material is intended for public distribution.In the UK and Non-European Economic Area (EEA) countries: this is Issued by BlackRock Investment Management (UK) Limited, authorised and regulated by the Financial Conduct Authority. Registered office: 12 Throgmorton Avenue, London, EC2N 2DL. Tel:+ 44 (0)20 7743 3000. Registered in England and Wales No. 02020394. For your protection telephone calls are usually recorded. Please refer to the Financial Conduct Authority website for a list of authorised activities conducted by BlackRock.In the European Economic Area (EEA): this is Issued by BlackRock (Netherlands) B.V. is authorised and regulated by the Netherlands Authority for the Financial Markets. Registered office Amstelplein 1, 1096 HA, Amsterdam, Tel: 020 – 549 5200, Tel: 31-20- 549-5200. Trade Register No. 17068311 For your protection telephone calls are usually recorded.For Investors in Switzerland: This document is marketing material.In South Africa: Please be advised that BlackRock Investment Management (UK) Limited is an authorised Financial Services provider with the South African Financial Services Board, FSP No. 43288.In Singapore, this is issued by BlackRock (Singapore) Limited (Co. registration no. 200010143N). This advertisement or publication has not been reviewed by the Monetary Authority of Singapore. In Hong Kong, this material is issued by BlackRock Asset Management North Asia Limited and has not been reviewed by the Securities and Futures Commission of Hong Kong. In Australia, issued by BlackRock Investment Management (Australia) Limited ABN 13 006 165 975, AFSL 230 523 (BIMAL). This material provides general information only and does not take into account your individual objectives, financial situation, needs or circumstances. Before making any investment decision, you should assess whether the material is appropriate for you and obtain financial advice tailored to you having regard to your individual objectives, financial situation, needs and circumstances. Refer to BIMAL's Financial Services Guide on its website for more information. This material is not a financial product recommendation or an offer or solicitation with respect to the purchase or sale of any financial product in any jurisdictionIn Latin America: this material is for educational purposes only and does not constitute investment advice nor an offer or solicitation to sell or a solicitation of an offer to buy any shares of any Fund (nor shall any such shares be offered or sold to any person) in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the securities law of that jurisdiction. If any funds are mentioned or inferred to in this material, it is possible that some or all of the funds may not have been registered with the securities regulator of Argentina, Brazil, Chile, Colombia, Mexico, Panama, Peru, Uruguay or any other securities regulator in any Latin American country and thus might not be publicly offered within any such country. The securities regulators of such countries have not confirmed the accuracy of any information contained herein. The provision of investment management and investment advisory services is a regulated activity in Mexico thus is subject to strict rules. For more information on the Investment Advisory Services offered by BlackRock Mexico please refer to the Investment Services Guide available at www.blackrock.com/mx©2026 BlackRock, Inc. All Rights Reserved. BLACKROCK is a registered trademark of BlackRock, Inc. All other trademarks are those of their respective owners.BII0526-5451655-EXP0527

Crypto investing is at a crossroads as digital assets move from speculative beginnings toward broader institutional adoption and integration into capital markets. As volatility persists and infrastructure evolves, investors are increasingly asking not what crypto is—but what role it plays in portfolios.Host Oscar Pulido is joined by Robbie Mitchnick, Head of Digital Assets at BlackRock, and Dan Morehead, CEO of Pantera Capital, live from Miami at BlackRock's Latin America Investment Forum. Together, they explore how crypto investing has evolved, why institutional participation is accelerating, and how investors are reassessing digital assets within diversified portfolios. The conversation examines the dual nature of crypto as both a volatile, risk-sensitive asset and a potential long-term diversifier. Robbie outlines how bitcoin's unique characteristics—scarcity, decentralization, and independence from sovereign systems—differentiate it from traditional assets in capital markets. Dan reflects on early conviction in crypto and why institutional adoption may still be in its early stages, despite growing awareness.Check out our previous episode on Gold and Bitcoin as Portfolio Diversifiers: Why Interest Is Rising Now: https://open.spotify.com/episode/7LTut5pKnHVfrOdoAFM5r9

When money feels hard, it is often the system, not you.This week on The Wallet, Emilie Bellet (Vestpod) is joined by Krystle McGilvery, behavioural finance expert and Chartered Accountant, to unpack why traditional money advice fails so many people, especially those who are neurodivergent.They cover:Why financial avoidance is often a form of protectionHow time blindness impacts spending and planningThe link between impulse spending and frictionless paymentsWhy “discipline” is the wrong framework for moneyWhat a system that actually works for your brain looks likeThe information shared is for educational purposes only and is not financial advice.ResourcesConnect with Krystle via Krystle McGilvery and NeuroFinance OSInstagram: @krystle_mcgilveryLinkedIn: Krystle McGilveryAD | This episode is sponsored by Wealthify.Wealthify makes investing simple by managing your investments for you. And if you deposit or transfer into their Stocks and Shares ISA, you could earn between £50 and £1,000 in cashback. Open your account at Wealthify.com.T&Cs and minimum investments apply. Registration closes on 31st May 2026. Cashback varies by total investment amount. With investing, your capital is at risk. Wealthify is authorised and regulated by the Financial Conduct Authority.Connect with Vestpod:Sign up to The Edit newsletter: https://www.vestpod.com/subscribeCourses and bootcamps: https://www.vestpod.com/coursesFollow on Instagram: https://www.instagram.com/vestpodEmilie's book: You're Not Broke, You're Pre-Rich Hosted on Acast. See acast.com/privacy for more information.

Kicking off EFG's Future Leaders series, Moz Afzal sits down with Jordi Visser, Head of AI Macro Nexus at Visser Labs. Together, they explore how AI is reshaping global markets, the challenges and opportunities for investors, and the rapid pace of technological change. Jordi also shares his unique perspective on the future of innovation and the evolving role of AI in economic disruption.Our host, Moz Afzal:https://bit.ly/31XbkTROur guest:Jordi Visserhttps://bit.ly/4cPzmnNEFGAM:https://www.newcapital.com/Important disclaimersThe value of investments and the income derived from them can fall as well as rise, and past performance is no indicator of future performance. Investment products may be subject to investment risks involving, but not limited to, possible loss of all or part of the principal invested. This document does not constitute and shall not be construed as a prospectus, advertisement, public offering or placement of, nor a recommendation to buy, sell, hold or solicit, any investment, security, other financial instrument or other product or service. It is not intended to be a final representation of the terms and conditions of any investment, security, other financial instrument or other product or service. This document is for general information only and is not intended as investment advice or any other specific recommendation as to any particular course of action or inaction. The information in this document does not take into account the specific investment objectives, financial situation or particular needs of the recipient. You should seek your own professional advice suitable to your particular circumstances prior to making any investment or if you are in doubt as to the information in this document.Although information in this document has been obtained from sources believed to be reliable, no member of the EFG group represents or warrants its accuracy, and such information may be incomplete or condensed. Any opinions in this document are subject to change without notice. This document may contain personal opinions which do not necessarily reflect the position of any member of the EFG group. To the fullest extent permissible by law, no member of the EFG group shall be responsible for the consequences of any errors or omissions herein, or reliance upon any opinion or statement contained herein, and each member of the EFG group expressly disclaims any liability, including (without limitation) liability for incidental or consequential damages, arising from the same or resulting from any action or inaction on the part of the recipient in reliance on this document.The availability of this document in any jurisdiction or country may be contrary to local law or regulation and persons who come into possession of this document should inform themselves of and observe any restrictions. This document may not be reproduced, disclosed or distributed (in whole or in part) to any other person without prior written permission from an authorised member of the EFG group.This document has been produced by EFG Asset Management (UK) Limited for use by the EFG group and the worldwide subsidiaries and affiliates within the EFG group. EFG Asset Management (UK) Limited is authorised and regulated by the UK Financial Conduct Authority, registered no.7389746. Registered address: EFG Asset Management (UK) Limited, 116 Park Street, London W1K 6AP, United Kingdom, telephone +44 (0)207 491 9111.Independent Asset Managers: in case this document is provided to Independent Asset Managers (“IAMs“), it is strictly forbidden to be reproduced, disclosed or distributed (in whole or in part) by IAMs and made available to their clients and/or third parties. By receiving this document IAMs confirm that they will need to make their own decisions/judgements about how to proceed and it is the responsibility of IAMs to ensure that the information provided is in line with their own clients' circumstances with regard to any investment, legal, regulatory, tax or other consequences. No liability is accepted by EFG for any damages, losses or costs (whether direct, indirect or consequential) that may arise from any use of this document by the IAMs, their clients or any third parties.If you have received this document from any affiliate or branch referred to below, please note the following:Australia: This document has been prepared and issued by EFG Asset Management (UK) Limited, a private limited company with registered number 7389746 and with its registered office address at 116 Park Street, London W1K 6AP (telephone number +44 (0)207 491 9111). EFG Asset Management (UK) Limited is regulated and authorized by the Financial Conduct Authority No. 536771. EFG Asset Management (UK) Limited is exempt from the requirement to hold an Australian financial services licence in respect of the financial services it provides to wholesale clients in Australia and is authorised and regulated by the Financial Conduct Authority of the United Kingdom (FCA Registration No. 536771) under the laws of the United Kingdom which differ from Australian laws.ASIC Class Order CO03/1099EFG Asset Management (UK) Limited notifies you that it is relying on the Australian Securities & Investments Commission (ASIC) Class Order CO03/1099 (Class Order) exemption (as extended in operation by ASIC Corporations (Repeal and Transitional Instrument 2016/396) for UK Financial Conduct Authority (FCA) regulated firms which exempts it from the requirement to hold an Australian financial services licence (AFSL) under the Corporations Act 2001 (Cth) (Corporations Act) in respect of the financial services we provide to you.The financial services that we provide to you are regulated by the FCA under the laws and regulatory requirements of the United Kingdom which are different to Australia. Consequently any offer or other documentation that you receive from us in the course of us providing financial services to you will be prepared in accordance with those laws and regulatory requirements. The UK regulatory requirements refer to legislation, rules enacted pursuant to the legislation and any other relevant policies or documents issued by the FCA.Your Status as a Wholesale ClientIn order that we may provide financial services to you, and for us to comply with the Class Order, you must be a ‘wholesale client' within the meaning given by section 761G of the Corporations Act. Accordingly, by accepting any documentation from us prior to the commencement of or in the course of us providing financial services to you, you:• warrant to us that you are a ‘wholesale client';• agree to provide such information or evidence that we may request from time to time to confirm your status as a wholesale client;• agree that we may cease providing financial services to you if you are no longer a wholesale client or do not provide us with information or evidence satisfactory to us to confirm your status as a wholesale client; and• agree to notify us in writing within5 business days if you cease to be a ‘wholesale client' for the purposes of the financial services that we provide to you.Bahamas: EFG Bank & Trust (Bahamas) Ltd. is licensed by the Securities Commission of the Bahamas pursuant to the Securities Industry Act, 2011 and Securities Industry Regulations, 2012 and is authorised to conduct securities business in and from The Bahamas including dealing in securities, arranging dealing in securities, managing securities and advising on securities. EFG Bank & Trust (Bahamas) Ltd. is also licensed by the Central Bank of The Bahamas pursuant to the Banks and Trust Companies Regulation Act, 2000 as a Bank and Trust company. Registered office: G...

Inflation pressures predate the Middle East supply shock, leaving central banks constrained on policy. Nicholas Fawcett, Senior Economist at the BlackRock Investment Institute, explains why we expect yields to remain elevated and how this affects the role of long-term government bonds as portfolio diversifiers.General disclosure: This material is intended for information purposes only, and does not constitute investment advice, a recommendation or an offer or solicitation to purchase or sell any securities, funds or strategies to any person in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction. The opinions expressed are as of the date of publication and are subject to change without notice. Reliance upon information in this material is at the sole discretion of the reader. Investing involves risks. BlackRock does and may seek to do business with companies covered in this podcast. As a result, readers should be aware that the firm may have a conflict of interest that could affect the objectivity of this podcast.In the U.S. and Canada, this material is intended for public distribution.In the UK and Non-European Economic Area (EEA) countries: this is Issued by BlackRock Investment Management (UK) Limited, authorised and regulated by the Financial Conduct Authority. Registered office: 12 Throgmorton Avenue, London, EC2N 2DL. Tel:+ 44 (0)20 7743 3000. Registered in England and Wales No. 02020394. For your protection telephone calls are usually recorded. Please refer to the Financial Conduct Authority website for a list of authorised activities conducted by BlackRock.In the European Economic Area (EEA): this is Issued by BlackRock (Netherlands) B.V. is authorised and regulated by the Netherlands Authority for the Financial Markets. Registered office Amstelplein 1, 1096 HA, Amsterdam, Tel: 020 – 549 5200, Tel: 31-20- 549-5200. Trade Register No. 17068311 For your protection telephone calls are usually recorded.For Investors in Switzerland: This document is marketing material.In South Africa: Please be advised that BlackRock Investment Management (UK) Limited is an authorised Financial Services provider with the South African Financial Services Board, FSP No. 43288.In Singapore, this is issued by BlackRock (Singapore) Limited (Co. registration no. 200010143N). This advertisement or publication has not been reviewed by the Monetary Authority of Singapore. In Hong Kong, this material is issued by BlackRock Asset Management North Asia Limited and has not been reviewed by the Securities and Futures Commission of Hong Kong. In Australia, issued by BlackRock Investment Management (Australia) Limited ABN 13 006 165 975, AFSL 230 523 (BIMAL). This material provides general information only and does not take into account your individual objectives, financial situation, needs or circumstances. Before making any investment decision, you should assess whether the material is appropriate for you and obtain financial advice tailored to you having regard to your individual objectives, financial situation, needs and circumstances. Refer to BIMAL's Financial Services Guide on its website for more information. This material is not a financial product recommendation or an offer or solicitation with respect to the purchase or sale of any financial product in any jurisdictionIn Latin America: this material is for educational purposes only and does not constitute investment advice nor an offer or solicitation to sell or a solicitation of an offer to buy any shares of any Fund (nor shall any such shares be offered or sold to any person) in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the securities law of that jurisdiction. If any funds are mentioned or inferred to in this material, it is possible that some or all of the funds may not have been registered with the securities regulator of Argentina, Brazil, Chile, Colombia, Mexico, Panama, Peru, Uruguay or any other securities regulator in any Latin American country and thus might not be publicly offered within any such country. The securities regulators of such countries have not confirmed the accuracy of any information contained herein. The provision of investment management and investment advisory services is a regulated activity in Mexico thus is subject to strict rules. For more information on the Investment Advisory Services offered by BlackRock Mexico please refer to the Investment Services Guide available at www.blackrock.com/mx©2026 BlackRock, Inc. All Rights Reserved. BLACKROCK is a registered trademark of BlackRock, Inc. All other trademarks are those of their respective owners.BII0426-5431249-EXP0427-1/16

Portfolio construction is being redefined as investors face a fundamentally different market regime. Higher inflation, shifting interest rate dynamics, and accelerating megaforces like AI and geopolitics are challenging long-held assumptions about diversification and asset allocation across capital markets.In this episode of The Bid, host Oscar Pulido sits down with Vivek Paul, Head of Portfolio Research and UK Chief Investment Strategist at the BlackRock Investment Institute. Together, they explore why traditional portfolio construction frameworks may no longer be sufficient and how investors are adapting to a world of greater uncertainty, dispersion, and structural change. Vivek explains how megaforces such as AI investing and geopolitical fragmentation are creating unprecedented outcomes across markets, making static asset allocation less effective. He outlines why portfolio construction must become more dynamic and granular, with a deeper focus on underlying risk exposures rather than broad asset class buckets. The conversation also examines the growing importance of private markets, active strategies, and scenario analysis in navigating today's environment.Timestamps00:00 Introduction01:56 What's driving the shift in portfolio construction03:24 Megaforces: AI and geopolitics06:15 Rethinking traditional asset allocation09:27 Diversification in a new regime12:10 Total Portfolio Approach: Private markets and active strategies14:28 Scenario analysis and future outcomes17:48 Risks and maintaining structure19:00 Key takeawaysSources: Rethinking portfolio construction during transformation, BII February 2026portfolio construction, capital markets, AI investing, megaforces, asset allocation, private markets, stock market trends, investing strategy, diversificationThis content is for informational purposes only and is not an offer or a solicitation. Reliance upon information in this material is at the sole discretion of the listener. Reference to any company or investment strategy mentioned is for illustrative purposes only and not investment advice. In the UK and non-European Economic Area countries, this is authorized and regulated by the Financial Conduct Authority. In the European Economic Area, this is authorized and regulated by the Netherlands Authority for the Financial Markets. For full disclosures, visit blackrock.com/corporate/compliance/bid-disclosures.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

AI is becoming an even more powerful mega force as investment accelerates beyond already historic levels. Natalie Gill, Senior Portfolio Strategist at the BlackRock Investment Institute, explains how these shifts are reinforcing the U.S. competitive edge.General disclosure: This material is intended for information purposes only, and does not constitute investment advice, a recommendation or an offer or solicitation to purchase or sell any securities, funds or strategies to any person in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction. The opinions expressed are as of the date of publication and are subject to change without notice. Reliance upon information in this material is at the sole discretion of the reader. Investing involves risks. BlackRock does and may seek to do business with companies covered in this podcast. As a result, readers should be aware that the firm may have a conflict of interest that could affect the objectivity of this podcast.In the U.S. and Canada, this material is intended for public distribution.In the UK and Non-European Economic Area (EEA) countries: this is Issued by BlackRock Investment Management (UK) Limited, authorised and regulated by the Financial Conduct Authority. Registered office: 12 Throgmorton Avenue, London, EC2N 2DL. Tel:+ 44 (0)20 7743 3000. Registered in England and Wales No. 02020394. For your protection telephone calls are usually recorded. Please refer to the Financial Conduct Authority website for a list of authorised activities conducted by BlackRock.In the European Economic Area (EEA): this is Issued by BlackRock (Netherlands) B.V. is authorised and regulated by the Netherlands Authority for the Financial Markets. Registered office Amstelplein 1, 1096 HA, Amsterdam, Tel: 020 – 549 5200, Tel: 31-20- 549-5200. Trade Register No. 17068311 For your protection telephone calls are usually recorded.For Investors in Switzerland: This document is marketing material.In South Africa: Please be advised that BlackRock Investment Management (UK) Limited is an authorised Financial Services provider with the South African Financial Services Board, FSP No. 43288.In Singapore, this is issued by BlackRock (Singapore) Limited (Co. registration no. 200010143N). This advertisement or publication has not been reviewed by the Monetary Authority of Singapore. In Hong Kong, this material is issued by BlackRock Asset Management North Asia Limited and has not been reviewed by the Securities and Futures Commission of Hong Kong. In Australia, issued by BlackRock Investment Management (Australia) Limited ABN 13 006 165 975, AFSL 230 523 (BIMAL). This material provides general information only and does not take into account your individual objectives, financial situation, needs or circumstances. Before making any investment decision, you should assess whether the material is appropriate for you and obtain financial advice tailored to you having regard to your individual objectives, financial situation, needs and circumstances. Refer to BIMAL's Financial Services Guide on its website for more information. This material is not a financial product recommendation or an offer or solicitation with respect to the purchase or sale of any financial product in any jurisdictionIn Latin America: this material is for educational purposes only and does not constitute investment advice nor an offer or solicitation to sell or a solicitation of an offer to buy any shares of any Fund (nor shall any such shares be offered or sold to any person) in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the securities law of that jurisdiction. If any funds are mentioned or inferred to in this material, it is possible that some or all of the funds may not have been registered with the securities regulator of Argentina, Brazil, Chile, Colombia, Mexico, Panama, Peru, Uruguay or any other securities regulator in any Latin American country and thus might not be publicly offered within any such country. The securities regulators of such countries have not confirmed the accuracy of any information contained herein. The provision of investment management and investment advisory services is a regulated activity in Mexico thus is subject to strict rules. For more information on the Investment Advisory Services offered by BlackRock Mexico please refer to the Investment Services Guide available at www.blackrock.com/mx©2026 BlackRock, Inc. All Rights Reserved. BLACKROCK is a registered trademark of BlackRock, Inc. All other trademarks are those of their respective owners.BII0426-5407455-EXP0427

High income, low progress: the hidden leak in your finances.This week on The Wallet, Emilie Bellet (Vestpod) sits down with Philly Ponniah to unpack the gap between earning and actually building wealth.They cover:Why money still disappears at £100K+The lifestyle creep you don't noticeThe belief that quietly blocks investingThe UK's £100K childcare tax trapWhat a real financial system looks likeThe information shared is for educational purposes only and is not financial advice.AD | This episode is sponsored by Wealthify.Wealthify makes investing simple by managing your investments for you. And if you deposit or transfer into their Stocks and Shares ISA, you could earn between £50 and £1,000 in cashback. Open your account at Wealthify.com. T&Cs and minimum investments apply. Registration closes on 31st May 2026. Cashback varies by total investment amount. With investing, your capital is at risk. Wealthify is authorised and regulated by the Financial Conduct Authority.ResourcesConnect with Philly at Philly FinancialInstagram: @phillyfinancialLinkedIn: PhillyConnect with VestpodSign up to The Edit newsletter: https://www.vestpod.com/subscribeCourses and bootcamps: https://www.vestpod.com/coursesFollow on Instagram: https://www.instagram.com/vestpodEmilie's book: You're Not Broke, You're Pre-RichThe information shared is for educational purposes only and is not financial advice. Hosted on Acast. See acast.com/privacy for more information.

Continuing his trip down under, Moz Afzal crossed over to Auckland to sit down with Andrew Kelleher, Director at Shaw and Partners New Zealand. Together they discuss the structure and outlook for the New Zealand economy, the behaviour of the Kiwi dollar, and the country's long-term prospects. Andrew also explores the evolution of New Zealand's investment services industry, as well as his unconventional path from archaeology into financial markets. Our host, Moz Afzal:https://bit.ly/31XbkTROur guest:Andrew Kelleherhttps://bit.ly/4enng7PEFGAM:https://www.newcapital.com/Important disclaimersThe value of investments and the income derived from them can fall as well as rise, and past performance is no indicator of future performance. Investment products may be subject to investment risks involving, but not limited to, possible loss of all or part of the principal invested. This document does not constitute and shall not be construed as a prospectus, advertisement, public offering or placement of, nor a recommendation to buy, sell, hold or solicit, any investment, security, other financial instrument or other product or service. It is not intended to be a final representation of the terms and conditions of any investment, security, other financial instrument or other product or service. This document is for general information only and is not intended as investment advice or any other specific recommendation as to any particular course of action or inaction. The information in this document does not take into account the specific investment objectives, financial situation or particular needs of the recipient. You should seek your own professional advice suitable to your particular circumstances prior to making any investment or if you are in doubt as to the information in this document.Although information in this document has been obtained from sources believed to be reliable, no member of the EFG group represents or warrants its accuracy, and such information may be incomplete or condensed. Any opinions in this document are subject to change without notice. This document may contain personal opinions which do not necessarily reflect the position of any member of the EFG group. To the fullest extent permissible by law, no member of the EFG group shall be responsible for the consequences of any errors or omissions herein, or reliance upon any opinion or statement contained herein, and each member of the EFG group expressly disclaims any liability, including (without limitation) liability for incidental or consequential damages, arising from the same or resulting from any action or inaction on the part of the recipient in reliance on this document.The availability of this document in any jurisdiction or country may be contrary to local law or regulation and persons who come into possession of this document should inform themselves of and observe any restrictions. This document may not be reproduced, disclosed or distributed (in whole or in part) to any other person without prior written permission from an authorised member of the EFG group.This document has been produced by EFG Asset Management (UK) Limited for use by the EFG group and the worldwide subsidiaries and affiliates within the EFG group. EFG Asset Management (UK) Limited is authorised and regulated by the UK Financial Conduct Authority, registered no.7389746. Registered address: EFG Asset Management (UK) Limited, 116 Park Street, London W1K 6AP, United Kingdom, telephone +44 (0)207 491 9111.Independent Asset Managers: in case this document is provided to Independent Asset Managers (“IAMs“), it is strictly forbidden to be reproduced, disclosed or distributed (in whole or in part) by IAMs and made available to their clients and/or third parties. By receiving this document IAMs confirm that they will need to make their own decisions/judgements about how to proceed and it is the responsibility of IAMs to ensure that the information provided is in line with their own clients' circumstances with regard to any investment, legal, regulatory, tax or other consequences. No liability is accepted by EFG for any damages, losses or costs (whether direct, indirect or consequential) that may arise from any use of this document by the IAMs, their clients or any third parties.If you have received this document from any affiliate or branch referred to below, please note the following:Australia: This document has been prepared and issued by EFG Asset Management (UK) Limited, a private limited company with registered number 7389746 and with its registered office address at 116 Park Street, London W1K 6AP (telephone number +44 (0)207 491 9111). EFG Asset Management (UK) Limited is regulated and authorized by the Financial Conduct Authority No. 536771. EFG Asset Management (UK) Limited is exempt from the requirement to hold an Australian financial services licence in respect of the financial services it provides to wholesale clients in Australia and is authorised and regulated by the Financial Conduct Authority of the United Kingdom (FCA Registration No. 536771) under the laws of the United Kingdom which differ from Australian laws.ASIC Class Order CO03/1099EFG Asset Management (UK) Limited notifies you that it is relying on the Australian Securities & Investments Commission (ASIC) Class Order CO03/1099 (Class Order) exemption (as extended in operation by ASIC Corporations (Repeal and Transitional Instrument 2016/396) for UK Financial Conduct Authority (FCA) regulated firms which exempts it from the requirement to hold an Australian financial services licence (AFSL) under the Corporations Act 2001 (Cth) (Corporations Act) in respect of the financial services we provide to you.The financial services that we provide to you are regulated by the FCA under the laws and regulatory requirements of the United Kingdom which are different to Australia. Consequently any offer or other documentation that you receive from us in the course of us providing financial services to you will be prepared in accordance with those laws and regulatory requirements. The UK regulatory requirements refer to legislation, rules enacted pursuant to the legislation and any other relevant policies or documents issued by the FCA.Your Status as a Wholesale ClientIn order that we may provide financial services to you, and for us to comply with the Class Order, you must be a ‘wholesale client' within the meaning given by section 761G of the Corporations Act. Accordingly, by accepting any documentation from us prior to the commencement of or in the course of us providing financial services to you, you:• warrant to us that you are a ‘wholesale client';• agree to provide such information or evidence that we may request from time to time to confirm your status as a wholesale client;• agree that we may cease providing financial services to you if you are no longer a wholesale client or do not provide us with information or evidence satisfactory to us to confirm your status as a wholesale client; and• agree to notify us in writing within5 business days if you cease to be a ‘wholesale client' for the purposes of the financial services that we provide to you.Bahamas: EFG Bank & Trust (Bahamas) Ltd. is licensed by the Securities Commission of the Bahamas pursuant to the Securities Industry Act, 2011 and Securities Industry Regulations, 2012 and is authorised to conduct securities business in and from The Bahamas including dealing in securities, arranging dealing in securities, managing securities and advising on securities. EFG Bank & Trust (Bahamas) Ltd. is also licensed by the Central Bank of The Bahamas pursuant to the Banks and Trust Compan...

U.S.-Iran negotiations collapsed for now, but we see talks as evidence of an economic incentive to end the conflict. Wei Li, BlackRock Global Chief Investment Strategist, unpacks the case for dialing up risk. General disclosure: This material is intended for information purposes only, and does not constitute investment advice, a recommendation or an offer or solicitation to purchase or sell any securities, funds or strategies to any person in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction. The opinions expressed are as of the date of publication and are subject to change without notice. Reliance upon information in this material is at the sole discretion of the reader. Investing involves risks. BlackRock does and may seek to do business with companies covered in this podcast. As a result, readers should be aware that the firm may have a conflict of interest that could affect the objectivity of this podcast.In the U.S. and Canada, this material is intended for public distribution.In the UK and Non-European Economic Area (EEA) countries: this is Issued by BlackRock Investment Management (UK) Limited, authorised and regulated by the Financial Conduct Authority. Registered office: 12 Throgmorton Avenue, London, EC2N 2DL. Tel:+ 44 (0)20 7743 3000. Registered in England and Wales No. 02020394. For your protection telephone calls are usually recorded. Please refer to the Financial Conduct Authority website for a list of authorised activities conducted by BlackRock.In the European Economic Area (EEA): this is Issued by BlackRock (Netherlands) B.V. is authorised and regulated by the Netherlands Authority for the Financial Markets. Registered office Amstelplein 1, 1096 HA, Amsterdam, Tel: 020 – 549 5200, Tel: 31-20- 549-5200. Trade Register No. 17068311 For your protection telephone calls are usually recorded.For Investors in Switzerland: This document is marketing material.In South Africa: Please be advised that BlackRock Investment Management (UK) Limited is an authorised Financial Services provider with the South African Financial Services Board, FSP No. 43288.In Singapore, this is issued by BlackRock (Singapore) Limited (Co. registration no. 200010143N). This advertisement or publication has not been reviewed by the Monetary Authority of Singapore. In Hong Kong, this material is issued by BlackRock Asset Management North Asia Limited and has not been reviewed by the Securities and Futures Commission of Hong Kong. In Australia, issued by BlackRock Investment Management (Australia) Limited ABN 13 006 165 975, AFSL 230 523 (BIMAL). This material provides general information only and does not take into account your individual objectives, financial situation, needs or circumstances. Before making any investment decision, you should assess whether the material is appropriate for you and obtain financial advice tailored to you having regard to your individual objectives, financial situation, needs and circumstances. Refer to BIMAL's Financial Services Guide on its website for more information. This material is not a financial product recommendation or an offer or solicitation with respect to the purchase or sale of any financial product in any jurisdictionIn Latin America: this material is for educational purposes only and does not constitute investment advice nor an offer or solicitation to sell or a solicitation of an offer to buy any shares of any Fund (nor shall any such shares be offered or sold to any person) in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the securities law of that jurisdiction. If any funds are mentioned or inferred to in this material, it is possible that some or all of the funds may not have been registered with the securities regulator of Argentina, Brazil, Chile, Colombia, Mexico, Panama, Peru, Uruguay or any other securities regulator in any Latin American country and thus might not be publicly offered within any such country. The securities regulators of such countries have not confirmed the accuracy of any information contained herein. The provision of investment management and investment advisory services is a regulated activity in Mexico thus is subject to strict rules. For more information on the Investment Advisory Services offered by BlackRock Mexico please refer to the Investment Services Guide available at www.blackrock.com/mx©2026 BlackRock, Inc. All Rights Reserved. BLACKROCK is a registered trademark of BlackRock, Inc. All other trademarks are those of their respective owners.BII0426-5390407-EXP0427

It's been a turbulent week for the mortgage market - as lenders adjusted their rates amid fears of a rise in inflation and what that will mean for interest rates. Average mortgage rates for a 2 and 5 year fix tipped above 5% for the first time since the summer this week, and they've been climbing since. In just a few days time the Bank of England will make its next interest rate decision, but a cut which had been widely anticipated two weeks ago, is now incredibly unlikely. Around 1.8 million people are to come off a fixed mortgage this year, and have some difficult decisions to make - what should they do?Victims' charities have criticised a long awaited and much delayed fraud strategy published earlier this week by the government. Ministers have described it as a "major upgrade to Britain's defences" with £250mn pounds to be invested over the next three years. On Thursday a £100 cap on contactless card payments in the UK is being scrapped. The Financial Conduct Authority is giving banks the freedom to set their own limits, and in theory they could even remove the cap altogether. But it turns out many banks are not planning to change the limit at all, at least for now - why?This week the Bank of England announced that British wildlife will replace historical figures on the next series of Bank of England banknotes. We asked Wildlife TV Presenter & Campaigner Chris Packham to tell us his ideas - from lapwings to foxes.Presenter: Paul Lewis Reporters: Dan Whitworth and Bisi Adebayo Researcher: Jo Krasner Editor: Jess Quayle Senior News Editor: Sara Wadeson(First broadcast 12pm Sat 14th March 2026)

The S&P 493 is gaining attention as investors look beyond the Magnificent Seven and reassess where growth and diversification may come from in today's equity markets. With market concentration at historic highs, a handful of mega cap companies have driven much of the S&P 500's returns, raising questions about what lies beneath the surface.In this episode of The Bid, host Oscar Pulido speaks with Ibrahim Kanan, Head of the U.S. Core Equity Team within BlackRock's Fundamental Equities Group, about the growing relevance of the S&P 493 — the broader set of companies outside the largest names. They explore how market concentration has evolved, why a $200 billion company represents only a small fraction of the index, and what that means for portfolio exposure.The conversation highlights how earnings growth is beginning to broaden beyond mega cap stocks, supported in part by the expanding impact of AI investment across sectors. From industrials and healthcare to consumer and financials, companies are both benefiting from AI infrastructure spending and adopting AI to improve operations. As dispersion across companies increases, the discussion also examines how active investing, differentiation, and stock selection may play a larger role in navigating today's equity market.Key moments in this episode:00:00 Introduction01:24 How Unprecedented Is 40% market Concentration of Magnificent Seven?03:35 What the S&P 493 represents05:28 Best of the Rest Signals07:21 Earnings Growth and Convergence Explained08:04 AI CapEx Spreads Beyond Nvidia10:31 AI as a Competitive Edge13:14 Where Opportunities Show Up14:35 Beyond AI and Idiosyncratic Picks15:44 Diversification Mirage and Active Risk18:04 Investor Mindset in Volatile Markets19:56 Wrap UpCheck out this episode with Carrie King on her stock picks for 2026: https://open.spotify.com/episode/69Ndp7lM8wRRccLh7EfyPg

On his recent trip to Australia, Moz Afzal sat down with Martin Crabb, CIO of Shaw and Partners, for a deep dive into the Australian economy and markets. They discuss how the latest Middle East tensions and higher energy prices are feeding into Australian inflation and interest rates, what that means for the Reserve Bank's hiking path, and the implications for the Aussie dollar and bond markets. They also explore the outlook for the ASX and why Australia's long-term story of population growth, infrastructure demand and a powerful superannuation system still offers compelling opportunities for investors over the next decade.Our host, Moz Afzal:https://bit.ly/31XbkTROur guest:Martin Crabb, CIO, Shaw and Partnershttps://bit.ly/3Qbuhi3EFGAM:https://www.newcapital.com/Important disclaimersThe value of investments and the income derived from them can fall as well as rise, and past performance is no indicator of future performance. Investment products may be subject to investment risks involving, but not limited to, possible loss of all or part of the principal invested. This document does not constitute and shall not be construed as a prospectus, advertisement, public offering or placement of, nor a recommendation to buy, sell, hold or solicit, any investment, security, other financial instrument or other product or service. It is not intended to be a final representation of the terms and conditions of any investment, security, other financial instrument or other product or service. This document is for general information only and is not intended as investment advice or any other specific recommendation as to any particular course of action or inaction. The information in this document does not take into account the specific investment objectives, financial situation or particular needs of the recipient. You should seek your own professional advice suitable to your particular circumstances prior to making any investment or if you are in doubt as to the information in this document.Although information in this document has been obtained from sources believed to be reliable, no member of the EFG group represents or warrants its accuracy, and such information may be incomplete or condensed. Any opinions in this document are subject to change without notice. This document may contain personal opinions which do not necessarily reflect the position of any member of the EFG group. To the fullest extent permissible by law, no member of the EFG group shall be responsible for the consequences of any errors or omissions herein, or reliance upon any opinion or statement contained herein, and each member of the EFG group expressly disclaims any liability, including (without limitation) liability for incidental or consequential damages, arising from the same or resulting from any action or inaction on the part of the recipient in reliance on this document.The availability of this document in any jurisdiction or country may be contrary to local law or regulation and persons who come into possession of this document should inform themselves of and observe any restrictions. This document may not be reproduced, disclosed or distributed (in whole or in part) to any other person without prior written permission from an authorised member of the EFG group.This document has been produced by EFG Asset Management (UK) Limited for use by the EFG group and the worldwide subsidiaries and affiliates within the EFG group. EFG Asset Management (UK) Limited is authorised and regulated by the UK Financial Conduct Authority, registered no.7389746. Registered address: EFG Asset Management (UK) Limited, 116 Park Street, London W1K 6AP, United Kingdom, telephone +44 (0)207 491 9111.Independent Asset Managers: in case this document is provided to Independent Asset Managers (“IAMs“), it is strictly forbidden to be reproduced, disclosed or distributed (in whole or in part) by IAMs and made available to their clients and/or third parties. By receiving this document IAMs confirm that they will need to make their own decisions/judgements about how to proceed and it is the responsibility of IAMs to ensure that the information provided is in line with their own clients' circumstances with regard to any investment, legal, regulatory, tax or other consequences. No liability is accepted by EFG for any damages, losses or costs (whether direct, indirect or consequential) that may arise from any use of this document by the IAMs, their clients or any third parties.If you have received this document from any affiliate or branch referred to below, please note the following:Australia: This document has been prepared and issued by EFG Asset Management (UK) Limited, a private limited company with registered number 7389746 and with its registered office address at 116 Park Street, London W1K 6AP (telephone number +44 (0)207 491 9111). EFG Asset Management (UK) Limited is regulated and authorized by the Financial Conduct Authority No. 536771. EFG Asset Management (UK) Limited is exempt from the requirement to hold an Australian financial services licence in respect of the financial services it provides to wholesale clients in Australia and is authorised and regulated by the Financial Conduct Authority of the United Kingdom (FCA Registration No. 536771) under the laws of the United Kingdom which differ from Australian laws.ASIC Class Order CO03/1099EFG Asset Management (UK) Limited notifies you that it is relying on the Australian Securities & Investments Commission (ASIC) Class Order CO03/1099 (Class Order) exemption (as extended in operation by ASIC Corporations (Repeal and Transitional Instrument 2016/396) for UK Financial Conduct Authority (FCA) regulated firms which exempts it from the requirement to hold an Australian financial services licence (AFSL) under the Corporations Act 2001 (Cth) (Corporations Act) in respect of the financial services we provide to you.The financial services that we provide to you are regulated by the FCA under the laws and regulatory requirements of the United Kingdom which are different to Australia. Consequently any offer or other documentation that you receive from us in the course of us providing financial services to you will be prepared in accordance with those laws and regulatory requirements. The UK regulatory requirements refer to legislation, rules enacted pursuant to the legislation and any other relevant policies or documents issued by the FCA.Your Status as a Wholesale ClientIn order that we may provide financial services to you, and for us to comply with the Class Order, you must be a ‘wholesale client' within the meaning given by section 761G of the Corporations Act. Accordingly, by accepting any documentation from us prior to the commencement of or in the course of us providing financial services to you, you:• warrant to us that you are a ‘wholesale client';• agree to provide such information or evidence that we may request from time to time to confirm your status as a wholesale client;• agree that we may cease providing financial services to you if you are no longer a wholesale client or do not provide us with information or evidence satisfactory to us to confirm your status as a wholesale client; and• agree to notify us in writing within5 business days if you cease to be a ‘wholesale client' for the purposes of the financial services that we provide to you.Bahamas: EFG Bank & Trust (Bahamas) Ltd. is licensed by the Securities Commission of the Bahamas pursuant to the Securities Industry Act, 2011 and Securities Industry Regulations, 2012 and is authorised to conduct securities business in and from The Bahamas including dealing in securities, arranging dealin...

CAPITAL AT RISK. INVESTMENTS CAN RISE OR FALL IN VALUE. FOR PUBLIC DISTRIBUTION IN THE U.S., CANADA, LATIN AMERICA, SELECT COUNTRIES IN EUROPE (SEE THE FULL DISCLAIMER), ISRAEL, SOUTH AFRICA, HONG KONG, SINGAPORE AND AUSTRALIA. FOR INSTITUTIONAL, PROFESSIONAL, AND QUALIFIED INVESTORS AND CLIENTS IN OTHER PERMITTED COUNTRIES.A stronger U.S. dollar and supply shocks are widening dispersion across emerging markets. Wei Li, Global Chief Investment Strategist at BlackRock, explains how mega forces — from AI to the energy transition — are creating pockets of resilience.General disclosure: This material is intended for information purposes only, and does not constitute investment advice, a recommendation or an offer or solicitation to purchase or sell any securities, funds or strategies to any person in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction. The opinions expressed are as of the date of publication and are subject to change without notice. Reliance upon information in this material is at the sole discretion of the reader. Investing involves risks. BlackRock does and may seek to do business with companies covered in this podcast. As a result, readers should be aware that the firm may have a conflict of interest that could affect the objectivity of this podcast.In the U.S. and Canada, this material is intended for public distribution.In the UK and Non-European Economic Area (EEA) countries: this is Issued by BlackRock Investment Management (UK) Limited, authorised and regulated by the Financial Conduct Authority. Registered office: 12 Throgmorton Avenue, London, EC2N 2DL. Tel:+ 44 (0)20 7743 3000. Registered in England and Wales No. 02020394. For your protection telephone calls are usually recorded. Please refer to the Financial Conduct Authority website for a list of authorised activities conducted by BlackRock.In the European Economic Area (EEA): this is Issued by BlackRock (Netherlands) B.V. is authorised and regulated by the Netherlands Authority for the Financial Markets. Registered office Amstelplein 1, 1096 HA, Amsterdam, Tel: 020 – 549 5200, Tel: 31-20- 549-5200. Trade Register No. 17068311 For your protection telephone calls are usually recorded.For Investors in Switzerland: This document is marketing material.In South Africa: Please be advised that BlackRock Investment Management (UK) Limited is an authorised Financial Services provider with the South African Financial Services Board, FSP No. 43288.In Singapore, this is issued by BlackRock (Singapore) Limited (Co. registration no. 200010143N). This advertisement or publication has not been reviewed by the Monetary Authority of Singapore. In Hong Kong, this material is issued by BlackRock Asset Management North Asia Limited and has not been reviewed by the Securities and Futures Commission of Hong Kong. In Australia, issued by BlackRock Investment Management (Australia) Limited ABN 13 006 165 975, AFSL 230 523 (BIMAL). This material provides general information only and does not take into account your individual objectives, financial situation, needs or circumstances. Before making any investment decision, you should assess whether the material is appropriate for you and obtain financial advice tailored to you having regard to your individual objectives, financial situation, needs and circumstances. Refer to BIMAL's Financial Services Guide on its website for more information. This material is not a financial product recommendation or an offer or solicitation with respect to the purchase or sale of any financial product in any jurisdictionIn Latin America: this material is for educational purposes only and does not constitute investment advice nor an offer or solicitation to sell or a solicitation of an offer to buy any shares of any Fund (nor shall any such shares be offered or sold to any person) in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the securities law of that jurisdiction. If any funds are mentioned or inferred to in this material, it is possible that some or all of the funds may not have been registered with the securities regulator of Argentina, Brazil, Chile, Colombia, Mexico, Panama, Peru, Uruguay or any other securities regulator in any Latin American country and thus might not be publicly offered within any such country. The securities regulators of such countries have not confirmed the accuracy of any information contained herein. The provision of investment management and investment advisory services is a regulated activity in Mexico thus is subject to strict rules. For more information on the Investment Advisory Services offered by BlackRock Mexico please refer to the Investment Services Guide available at www.blackrock.com/mx©2026 BlackRock, Inc. All Rights Reserved. BLACKROCK is a registered trademark of BlackRock, Inc. All other trademarks are those of their respective owners.BII0426-5363820-EXP0427

AI and bond markets are becoming increasingly interconnected as artificial intelligence reshapes capital demand, market structure, and investing approaches across fixed income. As inflation regimes shift and traditional diversification dynamics evolve, investors are rethinking the role bonds play in portfolios.In this episode of The Bid, host Oscar Pulido speaks with Jeff Rosenberg, Senior Fixed Income Portfolio Manager at BlackRock Systematic, about how AI and bond markets are evolving together. They explore how the rise of artificial intelligence is driving a new wave of capital investment, influencing real interest rates, and increasing debt issuance as companies finance AI infrastructure through bond markets.The conversation also examines how AI and bond markets intersect at the investment level. Rosenberg explains how advances in machine learning and generative AI are enhancing systematic investing, improving tools like sentiment analysis, and enabling deeper insights across thousands of issuers, central banks, and global markets.Finally, they discuss how modernization in fixed income — including electronic trading and the growth of bond ETFs — is transforming liquidity and price discovery. Together, these shifts are creating new opportunities and challenges for investors navigating a more complex and data-driven bond market.Key insights in this episode:00:00 Introduction to AI and Bonds02:20 From GFC to Post COVID - How bond markets have changed over time03:31 Bonds Beyond Ballast05:20 Inflation, rates, and diversification challenges06:53 Debt issuance and AI financing trends08:42 Generative AI Toolkit - using AI in fixed income investing10:14 ETFs and Price Discovery12:33 Systematic Investing and Data-Driven Strategies at Scale14:43 The Future of Bond Markets and AI and Technology17:04 Wrap Up and DisclosuresSources: Stock-Bond Diversification Offers Less Protection From Market Selloffs, IMF article, February 2026; “On Secular Stagnation in the Industrialized World”, Paper released by Harvard and Bank of England, 2019; “Financing the AI boom: from cash flows to debt”, BIS Bulletin paper, January 2026; ‘AI is eating software' and it is redefining supply chain decision-making as a result”, Supply Chain Management Review article, 2026; How AI is transforming Investing”, BlackRock 2026; The economic potential of generative AI: The next productivity frontier”, McKinsey 2026; “40 years of innovation in pursuit of alpha”, BlackRock, 2025; “Key Trends in Credit Markets for 2025” Barclays 2025AI and bond markets, fixed income investing, AI investing, bond market trends, systematic investing, capital markets, interest rates, bond ETFsThis content is for informational purposes only and is not an offer or a solicitation. Reliance upon information in this material is at the sole discretion of the listener. Reference to any company or investment strategy mentioned is for illustrative purposes only and not investment advice. In the UK and non-European Economic Area countries, this is authorized and regulated by the Financial Conduct Authority. In the European Economic Area, this is authorized and regulated by the Netherlands Authority for the Financial Markets. For full disclosures, visit blackrock.com/corporate/compliance/bid-disclosures.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Introduction What happens when a bank finds the right technology but can't touch it for nine months? The procurement bottleneck in regulated financial services isn't just an inconvenience. It's a competitive disadvantage measured in quarters, lost sponsors, and dead deals. Scott Sambucci, Managing Director of North America and Europe at NayaOne, has spent 25 years selling into and building technology for financial institutions, from CoreLogic to Blend Labs. Now he's leading the US and Canadian expansion of NayaOne's sandbox-as-a-service platform, the same infrastructure the UK's Financial Conduct Authority chose to power its own digital sandbox. In this episode, Scott breaks down why the vendor delivery problem is the real blocker to innovation in insurance and banking, and how air-gapped sandbox environments compress proof-of-concept timelines from months to weeks. Guest Bio Scott Sambucci is Managing Director of North America and Europe at NayaOne, where he leads market expansion for the London-based sandbox platform. Before joining NayaOne full-time in January 2024, he spent 25 years in Silicon Valley building and scaling technology companies in financial services, including executive roles at CoreLogic and Blend Labs. Scott is also founder of SalesQualia, a sales coaching firm, and teaches Sales & Marketing at Hult International Business School. A 200-mile ultramarathon finisher, he applies the same relentless-forward-progress mindset to enterprise sales and team building. Key Topics The vendor delivery infrastructure gap — Banks and carriers need 6-12 months of third-party risk management, security, and compliance review before they can even pilot new technology, leaving them perpetually behind nimble competitors. How air-gapped sandboxes collapse procurement timelines — NayaOne's off-estate digital sandbox lets institutions run proof of concepts in weeks because the environment is completely separated from production systems, eliminating the need for individual vendor security reviews. The "vet once, test many" model — Once a bank approves NayaOne as a vendor, any future technology (from Y Combinator startups to CrowdStrike) can be tested inside the sandbox without repeating the TPRM process. Insurance-specific use cases: claims modernization — P&C carriers are using the platform to test AI-driven FNOL triage, claims routing, fraud detection, and payment automation across the full claims lifecycle. Multi-LLM side-by-side assessments — Banks are running comparative evaluations of ChatGPT, Gemini, and other LLMs inside the sandbox, the only way regulated institutions can safely touch these systems before committing. Integration testing with core systems — The platform replicates Guidewire, Duck Creek, Salesforce, and ServiceNow environments so carriers can validate interoperability before making a purchasing decision. Relentless forward progress as a leadership framework — Scott draws a direct line from 200-mile ultramarathons to building a US operation from scratch: plan station to station, leverage the team, and own everything that happens. Notable Quotes "What you've built here is a utility that every financial institution is going to need, whether they know it or not right now." — Scott Sambucci, Managing Director, NayaOne "There's nothing more frustrating than making good progress with your sales demo, having good early conversations, but then being told it's just gonna take nine months for you to fill out all this paperwork." — Scott Sambucci "By nature, every bank out there is going to be twelve months behind their competitive landscape because those competitors don't have those same guardrails yet." — Scott Sambucci "No one's coming to help you. No one can pick you up and take you to the finish line. It doesn't matter how good or bad you feel — you just have to keep moving." — Scott Sambucci Resources Guest: NayaOne: https://nayaone.com/ Scott Sambucci on LinkedIn: https://www.linkedin.com/in/scottsambucci/ Host & Organization: Joshua R. Hollander on LinkedIn: https://www.linkedin.com/in/joshuarhollander/ Horton International (USA): https://www.horton-usa.com/ Insurtech Leadership Podcast (LinkedIn Showcase): https://www.linkedin.com/showcase/insurtech-leadership-show Subscribe & Review If you enjoyed this episode, subscribe on your favorite platform and leave a review. The Insurtech Leadership Podcast is available on YouTube, Podbean, Apple Podcasts, and Spotify.

CAPITAL AT RISK. INVESTMENTS CAN RISE OR FALL IN VALUE. FOR PUBLIC DISTRIBUTION IN THE U.S., CANADA, LATIN AMERICA, SELECT COUNTRIES IN EUROPE (SEE THE FULL DISCLAIMER), ISRAEL, SOUTH AFRICA, HONG KONG, SINGAPORE AND AUSTRALIA. FOR INSTITUTIONAL, PROFESSIONAL, AND QUALIFIED INVESTORS AND CLIENTS IN OTHER PERMITTED COUNTRIES.The Middle East shock and rising AI-driven power demand are reinforcing energy security and supply chain resilience. Christopher Kaminker, Head of Sustainable Investment Research and Analytics at the BlackRock Investment Institute, explains how these forces are unlocking long-term, thematic opportunities.General disclosure: This material is intended for information purposes only, and does not constitute investment advice, a recommendation or an offer or solicitation to purchase or sell any securities, funds or strategies to any person in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction. The opinions expressed are as of the date of publication and are subject to change without notice. Reliance upon information in this material is at the sole discretion of the reader. Investing involves risks. BlackRock does and may seek to do business with companies covered in this podcast. As a result, readers should be aware that the firm may have a conflict of interest that could affect the objectivity of this podcast.In the U.S. and Canada, this material is intended for public distribution.In the UK and Non-European Economic Area (EEA) countries: this is Issued by BlackRock Investment Management (UK) Limited, authorised and regulated by the Financial Conduct Authority. Registered office: 12 Throgmorton Avenue, London, EC2N 2DL. Tel:+ 44 (0)20 7743 3000. Registered in England and Wales No. 02020394. For your protection telephone calls are usually recorded. Please refer to the Financial Conduct Authority website for a list of authorised activities conducted by BlackRock.In the European Economic Area (EEA): this is Issued by BlackRock (Netherlands) B.V. is authorised and regulated by the Netherlands Authority for the Financial Markets. Registered office Amstelplein 1, 1096 HA, Amsterdam, Tel: 020 – 549 5200, Tel: 31-20- 549-5200. Trade Register No. 17068311 For your protection telephone calls are usually recorded.For Investors in Switzerland: This document is marketing material.In South Africa: Please be advised that BlackRock Investment Management (UK) Limited is an authorised Financial Services provider with the South African Financial Services Board, FSP No. 43288.In Singapore, this is issued by BlackRock (Singapore) Limited (Co. registration no. 200010143N). This advertisement or publication has not been reviewed by the Monetary Authority of Singapore. In Hong Kong, this material is issued by BlackRock Asset Management North Asia Limited and has not been reviewed by the Securities and Futures Commission of Hong Kong. In Australia, issued by BlackRock Investment Management (Australia) Limited ABN 13 006 165 975, AFSL 230 523 (BIMAL). This material provides general information only and does not take into account your individual objectives, financial situation, needs or circumstances. Before making any investment decision, you should assess whether the material is appropriate for you and obtain financial advice tailored to you having regard to your individual objectives, financial situation, needs and circumstances. Refer to BIMAL's Financial Services Guide on its website for more information. This material is not a financial product recommendation or an offer or solicitation with respect to the purchase or sale of any financial product in any jurisdictionIn Latin America: this material is for educational purposes only and does not constitute investment advice nor an offer or solicitation to sell or a solicitation of an offer to buy any shares of any Fund (nor shall any such shares be offered or sold to any person) in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the securities law of that jurisdiction. If any funds are mentioned or inferred to in this material, it is possible that some or all of the funds may not have been registered with the securities regulator of Argentina, Brazil, Chile, Colombia, Mexico, Panama, Peru, Uruguay or any other securities regulator in any Latin American country and thus might not be publicly offered within any such country. The securities regulators of such countries have not confirmed the accuracy of any information contained herein. The provision of investment management and investment advisory services is a regulated activity in Mexico thus is subject to strict rules. For more information on the Investment Advisory Services offered by BlackRock Mexico please refer to the Investment Services Guide available at www.blackrock.com/mx©2026 BlackRock, Inc. All Rights Reserved. BLACKROCK is a registered trademark of BlackRock, Inc. All other trademarks are those of their respective owners.BII0326-5346225-EXP0327

Private markets are moving from the sidelines of institutional portfolios into the mainstream of wealth management. As companies stay private longer and financing increasingly happens outside public exchanges, investors are beginning to rethink how broad the traditional investment universe really is. The shift is raising a new question for portfolios: should investors be looking beyond public markets to access the full range of opportunities across capital markets?In this episode of The Bid, host Oscar Pulido speaks with Jon Diorio, Head of Product and Alternatives for BlackRock's U.S. Wealth Business, live from the Future Proof Citywide conference in Miami. Together they explore why interest in private markets has accelerated in recent years, how access for individual investors has expanded, and what's driving greater adoption among financial advisors.They also discuss how private markets differ from public markets — including liquidity considerations, longer investment horizons, and the potential role of what's often called an “illiquidity premium.” The conversation explores how private equity, private credit, infrastructure, and real estate investments may fit within diversified portfolios, why education and due diligence remain essential, and how the industry is evolving to integrate private assets more seamlessly into modern portfolio construction.Key insights from this episode:00:00 Introduction02:11 What are private markets and alternatives and Why Now?03:09 Why companies are staying private longer04:54 How access to private markets has expanded06:46 Are Private Markets for Everyone?08:33 Liquidity, time horizons, and the illiquidity premium11:33 How advisors integrate private markets into portfolios13:58 Challenges and due diligence in private markets15:21 Next Steps and Wrap Up16:59 Outro and DisclosuresSources: Bloomberg as at 12/31/2025, BlackRock US Wealth Survey Internal private markets investing, private equity, private credit, alternatives investing, portfolio diversification, capital markets, wealth management, investment strategiesThis content is for informational purposes only and is not an offer or a solicitation. Reliance upon information in this material is at the sole discretion of the listener. Reference to any company or investment strategy mentioned is for illustrative purposes only and not investment advice. In the UK and non-European Economic Area countries, this is authorized and regulated by the Financial Conduct Authority. In the European Economic Area, this is authorized and regulated by the Netherlands Authority for the Financial Markets. For full disclosures, visit blackrock.com/corporate/compliance/bid-disclosures.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Welcome to The Daily Wrap Up, an in-depth investigatory show dedicated to bringing you the most relevant independent news, as we see it, from the last 24 hours (3/23/26). As always, take the information discussed in the video below and research it for yourself, and come to your own conclusions. Anyone telling you what the truth is, or claiming they have the answer, is likely leading you astray, for one reason or another. Stay Vigilant. !function(r,u,m,b,l,e){r._Rumble=b,r[b]||(r[b]=function(){(r[b]._=r[b]._||[]).push(arguments);if(r[b]._.length==1){l=u.createElement(m),e=u.getElementsByTagName(m)[0],l.async=1,l.src="https://rumble.com/embedJS/u2q643"+(arguments[1].video?'.'+arguments[1].video:'')+"/?url="+encodeURIComponent(location.href)+"&args="+encodeURIComponent(JSON.stringify([].slice.apply(arguments))),e.parentNode.insertBefore(l,e)}})}(window, document, "script", "Rumble");   Rumble("play", {"video":"v75c6xi","div":"rumble_v75c6xi"}); Source Links (In Chronological Order):  (21) B L A K E L E Y™℠©® LLC on X: "Please follow me on @backupblakeley while I deal with this crap." / X (21) Mark Gadala-Maria on X: "This is wild. 143 million people thought they were catching Pokémon. They were actually building one of the largest real-world visual datasets in AI history. Niantic just disclosed that photos and AR scans collected through Pokémon Go have produced a dataset of over 30 billion" / X (21) markgoodw.in on X: "hey @Support you blocked @_whitneywebb's ability to log into X due to suspicious logins detected. asking for help to bump this in the support cue with likes and retweets so we can promo this new piece! cheers everyone." / X X Users Find Their Real Names Are Being Googled in Israel After Using X Verification Software "Au10tix" (21) Jordan on X: "DATA CENTERS UNDER CONSTRUCTION IN THE UNITED STATES The number of data centers currently under construction by state shows how quickly AI infrastructure is expanding. Texas — 135 Virginia — 134 Georgia — 51 Ohio — 45 Arizona — 35 Nevada — 29 Indiana — 21 Mississippi — 21 https://t.co/NiWf0ZbXTb" / X Welcome to the Palantir World Order (21) Dirty Indy

The escalating Mideast conflict has now caused energy markets to price in a prolonged disruption. Wei Li, Global Chief Investment Strategist at BlackRock, shares the changes we're making to BlackRock's tactical investment views. General disclosure: This material is intended for information purposes only, and does not constitute investment advice, a recommendation or an offer or solicitation to purchase or sell any securities, funds or strategies to any person in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction. The opinions expressed are as of the date of publication and are subject to change without notice. Reliance upon information in this material is at the sole discretion of the reader. Investing involves risks. BlackRock does and may seek to do business with companies covered in this podcast. As a result, readers should be aware that the firm may have a conflict of interest that could affect the objectivity of this podcast.In the U.S. and Canada, this material is intended for public distribution.In the UK and Non-European Economic Area (EEA) countries: this is Issued by BlackRock Investment Management (UK) Limited, authorised and regulated by the Financial Conduct Authority. Registered office: 12 Throgmorton Avenue, London, EC2N 2DL. Tel:+ 44 (0)20 7743 3000. Registered in England and Wales No. 02020394. For your protection telephone calls are usually recorded. Please refer to the Financial Conduct Authority website for a list of authorised activities conducted by BlackRock.In the European Economic Area (EEA): this is Issued by BlackRock (Netherlands) B.V. is authorised and regulated by the Netherlands Authority for the Financial Markets. Registered office Amstelplein 1, 1096 HA, Amsterdam, Tel: 020 – 549 5200, Tel: 31-20- 549-5200. Trade Register No. 17068311 For your protection telephone calls are usually recorded.For Investors in Switzerland: This document is marketing material.In South Africa: Please be advised that BlackRock Investment Management (UK) Limited is an authorised Financial Services provider with the South African Financial Services Board, FSP No. 43288.In Singapore, this is issued by BlackRock (Singapore) Limited (Co. registration no. 200010143N). This advertisement or publication has not been reviewed by the Monetary Authority of Singapore. In Hong Kong, this material is issued by BlackRock Asset Management North Asia Limited and has not been reviewed by the Securities and Futures Commission of Hong Kong. In Australia, issued by BlackRock Investment Management (Australia) Limited ABN 13 006 165 975, AFSL 230 523 (BIMAL). This material provides general information only and does not take into account your individual objectives, financial situation, needs or circumstances. Before making any investment decision, you should assess whether the material is appropriate for you and obtain financial advice tailored to you having regard to your individual objectives, financial situation, needs and circumstances. Refer to BIMAL's Financial Services Guide on its website for more information. This material is not a financial product recommendation or an offer or solicitation with respect to the purchase or sale of any financial product in any jurisdictionIn Latin America: this material is for educational purposes only and does not constitute investment advice nor an offer or solicitation to sell or a solicitation of an offer to buy any shares of any Fund (nor shall any such shares be offered or sold to any person) in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the securities law of that jurisdiction. If any funds are mentioned or inferred to in this material, it is possible that some or all of the funds may not have been registered with the securities regulator of Argentina, Brazil, Chile, Colombia, Mexico, Panama, Peru, Uruguay or any other securities regulator in any Latin American country and thus might not be publicly offered within any such country. The securities regulators of such countries have not confirmed the accuracy of any information contained herein. The provision of investment management and investment advisory services is a regulated activity in Mexico thus is subject to strict rules. For more information on the Investment Advisory Services offered by BlackRock Mexico please refer to the Investment Services Guide available at www.blackrock.com/mx©2026 BlackRock, Inc. All Rights Reserved. BLACKROCK is a registered trademark of BlackRock, Inc. All other trademarks are those of their respective owners.BII0326-5326125-EXP0327

Alternative investing is moving from a niche allocation to a core portfolio conversation. As volatility returns, interest rates reset higher, AI accelerates capital spending, and fiscal deficits expand, investors are reassessing what diversification really means. In a world where stocks and bonds can move together and macro forces dominate markets, traditional portfolio frameworks are under pressure.In this episode of The Bid, host Oscar Pulido revisits conversations with investors and strategists across BlackRock to explore why alternative investing is gaining renewed attention. From private equity, private credit, and infrastructure to hedge fund strategies, gold, and digital assets, the episode examines how alternatives are being used to broaden return drivers and navigate today's regime shift in capital markets.The discussion highlights how structural megaforces — including AI buildout, geopolitical fragmentation, and fiscal expansion — are reshaping opportunity sets. Private markets offer exposure to long-duration capital themes and potential illiquidity premia, though with liquidity tradeoffs and manager dispersion. Hedge fund strategies aim to capture rising market dispersion through flexible long/short and systematic approaches. Infrastructure sits at the center of AI-driven energy demand and essential services. Meanwhile, gold and digital assets are increasingly viewed as monetary alternatives with distinct risk-return profiles. As portfolio construction evolves beyond the traditional 60/40 model, alternative investing is becoming part of a broader shift toward expanding diversification tools in volatile markets.Check out the previous episodes featured in this episode in this playlist on Alternative Investments: https://open.spotify.com/playlist/4Fe8VwKyG5FPYekFFSksbIKey insights from this episode:00:00 Introduction01:08 Why traditional diversification has become harder in AI-driven markets03:22 Defining Alternative Investing04:00 How private markets have grown — and what tradeoffs they introduce06:04 Infrastructure The AI Buildout: Where infrastructure investing connects to AI and energy demand08:37 Liquid Alternatives & Hedge Fund Strategies12:12 Systematic Alpha In Volatility13:36 How gold and digital assets fit into the evolving diversification toolkit18:38 Rethinking Portfolio Mix19:22 Wrap Up And Next EpisodeAlternative investing explained, private equity, private credit, hedge fund strategies, infrastructure investing, AI capital spending, portfolio diversification, 60/40 portfolio shift, digital assets, bitcoin investing, gold investing, capital markets outlook, alternative investingThis content is for informational purposes only and is not an offer or a solicitation. Reliance upon information in this material is at the sole discretion of the listener. Reference to any company or investment strategy mentioned is for illustrative purposes only and not investment advice. In the UK and non-European Economic Area countries, this is authorized and regulated by the Financial Conduct Authority. In the European Economic Area, this is authorized and regulated by the Netherlands Authority for the Financial Markets. For full disclosures, visit blackrock.com/corporate/compliance/bid-disclosures.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The Mideast conflict has effectively closed the Strait of Hormuz, a key global energy chokepoint. Ehsan Khoman, Economist at the BlackRock Investment Institute, unpacks the implications for markets.General disclosure: This material is intended for information purposes only, and does not constitute investment advice, a recommendation or an offer or solicitation to purchase or sell any securities, funds or strategies to any person in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction. The opinions expressed are as of the date of publication and are subject to change without notice. Reliance upon information in this material is at the sole discretion of the reader. Investing involves risks. BlackRock does and may seek to do business with companies covered in this podcast. As a result, readers should be aware that the firm may have a conflict of interest that could affect the objectivity of this podcast.In the U.S. and Canada, this material is intended for public distribution.In the UK and Non-European Economic Area (EEA) countries: this is Issued by BlackRock Investment Management (UK) Limited, authorised and regulated by the Financial Conduct Authority. Registered office: 12 Throgmorton Avenue, London, EC2N 2DL. Tel:+ 44 (0)20 7743 3000. Registered in England and Wales No. 02020394. For your protection telephone calls are usually recorded. Please refer to the Financial Conduct Authority website for a list of authorised activities conducted by BlackRock.In the European Economic Area (EEA): this is Issued by BlackRock (Netherlands) B.V. is authorised and regulated by the Netherlands Authority for the Financial Markets. Registered office Amstelplein 1, 1096 HA, Amsterdam, Tel: 020 – 549 5200, Tel: 31-20- 549-5200. Trade Register No. 17068311 For your protection telephone calls are usually recorded.For Investors in Switzerland: This document is marketing material.In South Africa: Please be advised that BlackRock Investment Management (UK) Limited is an authorised Financial Services provider with the South African Financial Services Board, FSP No. 43288.In Singapore, this is issued by BlackRock (Singapore) Limited (Co. registration no. 200010143N). This advertisement or publication has not been reviewed by the Monetary Authority of Singapore. In Hong Kong, this material is issued by BlackRock Asset Management North Asia Limited and has not been reviewed by the Securities and Futures Commission of Hong Kong. In Australia, issued by BlackRock Investment Management (Australia) Limited ABN 13 006 165 975, AFSL 230 523 (BIMAL). This material provides general information only and does not take into account your individual objectives, financial situation, needs or circumstances. Before making any investment decision, you should assess whether the material is appropriate for you and obtain financial advice tailored to you having regard to your individual objectives, financial situation, needs and circumstances. Refer to BIMAL's Financial Services Guide on its website for more information. This material is not a financial product recommendation or an offer or solicitation with respect to the purchase or sale of any financial product in any jurisdictionIn Latin America: this material is for educational purposes only and does not constitute investment advice nor an offer or solicitation to sell or a solicitation of an offer to buy any shares of any Fund (nor shall any such shares be offered or sold to any person) in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the securities law of that jurisdiction. If any funds are mentioned or inferred to in this material, it is possible that some or all of the funds may not have been registered with the securities regulator of Argentina, Brazil, Chile, Colombia, Mexico, Panama, Peru, Uruguay or any other securities regulator in any Latin American country and thus might not be publicly offered within any such country. The securities regulators of such countries have not confirmed the accuracy of any information contained herein. The provision of investment management and investment advisory services is a regulated activity in Mexico thus is subject to strict rules. For more information on the Investment Advisory Services offered by BlackRock Mexico please refer to the Investment Services Guide available at www.blackrock.com/mx©2026 BlackRock, Inc. All Rights Reserved. BLACKROCK is a registered trademark of BlackRock, Inc. All other trademarks are those of their respective owners.BII0326-5304729-EXP0327

Emerging markets are back in focus in 2026 — not just as a cyclical trade, but as investors reassess performance leadership, diversification, and where growth is showing up in a shifting global paradigm. After a long stretch of disappointing returns, emerging markets have started the year strongly, alongside record interest from global investors. But the case for EM today is less about a single story — and more about dispersion across countries, sectors, and themes.In this episode of The Bid, host Oscar Pulido is joined by Alex Brazier, Global Head of Investment and Portfolio Solutions, and Sam Vecht, Portfolio Manager on BlackRock's Global Emerging Markets Equities team. Alex shares what he's hearing from investors across the U.S. and Europe, including the role of flows, sentiment, and portfolio positioning. Sam brings a bottom-up perspective on how emerging markets have evolved over the past two decades — and why market pricing hasn't always reflected economic progress.Together, they explore why emerging markets may play a different role in portfolios today: providing exposure to distinct parts of the AI buildout, offering potentially different valuation and earnings dynamics than developed markets, and responding differently to U.S. dollar moves. The conversation also highlights where opportunities may be emerging beneath the surface — from under-owned regions like Latin America and parts of the Middle East, to shifting sentiment around India — while underscoring the reality that EM remains volatile, cyclical, and highly heterogeneous.Key moments in this episode:00:00 Introduction01:56 Why emerging markets are drawing renewed investor attention in 202604:58 Two Decades of Underperformance06:16 Explaining The Diversification Mirage10:31 Where emerging markets can broaden portfolios — and where correlations still matter13:00 How Investors Can Get Exposure To Emerging Markets16:55 How dispersion across regions is driving more selective, active approaches19:09 Conclusions and Next EpisodeSources: BlackRock, data based on 1,245 EMEA survey submissions in February 3rd rapid response client call; BlackRock calculated using Aladdin data; “World Economic Outlook, Global Economy in Flux, Prospects Remain Dim”, IMF, October 2025; Bloomberg as at Dec 2025; BlackRock, Global Business Intelligence, as at 20 Feb 2026; BlackRock, Morningstar, Aladdin. Portfolio average allocation based on 166 Europe-domiciled Morningstar moderate-risk multi-asset FoF portfolios, positioning as of 31 December 2025. Global index refers to MSCI All Country World Index.Emerging markets, Emerging markets investing, Capital markets, Global diversification, AI investing, U.S. dollar, Latin America equities, India markets, Middle East markets, Global portfolio strategyThis content is for informational purposes only and is not an offer or a solicitation. Reliance upon information in this material is at the sole discretion of the listener. Reference to any company or investment strategy mentioned is for illustrative purposes only and not investment advice. In the UK and non-European Economic Area countries, this is authorized and regulated by the Financial Conduct Authority. In the European Economic Area, this is authorized and regulated by the Netherlands Authority for the Financial Markets. For full disclosures, visit blackrock.com/corporate/compliance/bid-disclosures.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The K-shaped consumer is redefining the outlook for the U.S. economy. While overall spending remains resilient, growth is increasingly concentrated among higher-income households, creating widening gaps across income levels. As policy shifts, AI adoption, and healthcare innovations reshape behavior, the consumer landscape is becoming more uneven.In this episode of The Bid, host Oscar Pulido is joined by Lisa Yang, Portfolio Manager and Co-Head of the Consumer Industry Group within BlackRock Fundamental Equities, to assess the state of the U.S. consumer heading into 2026. From wage growth and labor market dynamics to fiscal policy, tariffs, and immigration, Lisa explains how macro forces are influencing spending patterns — and why resilience is strongest at the high end. The conversation also explores structural shifts shaping stock market trends, including the rise of value-focused retailers, the impact of GLP-1 weight-loss drugs on food and apparel demand, and how AI-driven “agentic commerce” could transform retail media and brand discovery. As capital markets digest these changes, understanding the nuances of consumer behavior is critical for investors.Key insights from this episode:02:11 Introducing The "Two Speed Consumer"04:26 Yellow Flags Ahead - Why the U.S. Consumer Remains Resilient But increasingly K-shaped05:46 Policy Shocks 2026 - How fiscal policy and tariffs could widen income-driven spending gaps08:45 Why Value Retailers and Discounters are Outperforming12:01 GLP One Ripple Effects - How GLP-1 Drugs Are Reshaping Grocery, Apparel, and Beauty categories14:40 How AI Will Change Shopping Trends - What agentic commerce means for retailers, brands, and advertising models17:43 Other Trends Watchlist - Why Health and Wellness Remains A Durable Long-term Consumer Trend20:02 ConclusionsK-shaped economy, U.S. consumer spending, AI in retail, GLP-1 drugs, capital markets, stock market trends, consumer investing, megaforcesSources: “Advance Monthly Sales for Retail and Food Services” February 2026, United States Census Bureau; US Bureau of Economic Analysis (PCE data); FRED 2026, Bureau of Labor Statistics; Wage Growth Data, January 2026, Federal Reserve of Atlanta; Tax refunds per Morgan Stanley, Piper Sandler estimates; “US food outlook 2026”, Bernstein; “GLP-1 Boom Accelerates Nationwide Shift in Size Curves, Putting $5 Billion in U.S. Apparel Retail Inventory at Risk, According to New Impact Analytics Study”, Global Newswire, September 2025This content is for informational purposes only and is not an offer or a solicitation. Reliance upon information in this material is at the sole discretion of the listener. Reference to any company or investment strategy mentioned is for illustrative purposes only and not investment advice. In the UK and non-European Economic Area countries, this is authorized and regulated by the Financial Conduct Authority. In the European Economic Area, this is authorized and regulated by the Netherlands Authority for the Financial Markets. For full disclosures, visit blackrock.com/corporate/compliance/bid-disclosures.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Skilled trades are becoming one of the most important — and overlooked — drivers of the global infrastructure boom. As trillions of dollars flow into energy systems, transportation networks, telecoms, and AI data centers, the constraint is no longer just capital — it's labor. The scale of the infrastructure buildout is historic, but delivering it depends on the availability of trained workers.In this episode of The Bid, host Oscar Pulido is joined by Claire Chamberlain, Global Head of Social Impact and President of the BlackRock Foundation, and Sandra Lawson, Managing Director in Global Corporate Affairs, to explore why skilled trades are central to the next phase of infrastructure investing. With an estimated $85 trillion in global infrastructure investment needed over the next 15 years, demand for electricians, HVAC technicians, grid specialists and plumbers is accelerating.Claire and Sandra explain how apprenticeship-based career pathways offer paid training, competitive wages, and the prospect of long-term financial stability — while also highlighting the growing supply-demand imbalance in the labor market. The conversation explores how philanthropy, employers, unions, schools, and policymakers can work together to expand training capacity and modernize workforce development. As megaforces like AI and infrastructure reshape capital markets, human capital will be just as critical as financial capital in determining long-term economic success.Key moments:00:00 Introduction and meet the guests02:13 WWhat the $85 trillion infrastructure opportunity means for labor markets03:54 Why AI and infrastructure are increasing demand for specialized workers04:45 Why Are These Skilled Jobs Good Jobs?07:15 Training Pipeline Worker Shortage08:43 Philanthropy as Catalyst For The Infrastructure Skilled Trades Requirement10:41 What success looks like for workforce development in an infrastructure-driven economy12:56 Rethinking Going to College vs Apprenticeships and Skilled Trades15:25 How collaboration among employers, unions schools, and philanthropy can expand training capacity17:19 Wrap Up and DisclosureSkilled trades, infrastructure investing, workforce development, capital markets, AI infrastructure, megaforces, economic growth, energy transitionSources: “On the record: Infrastructure and the opportunity in skilled trades”, BlackRock 2026Written Disclosures In Episode Description:This content is for informational purposes only and is not an offer or a solicitation. Reliance upon information in this material is at the sole discretion of the listener. Reference to any company or investment strategy mentioned is for illustrative purposes only and not investment advice. In the UK and non-European Economic Area countries, this is authorized and regulated by the Financial Conduct Authority. In the European Economic Area, this is authorized and regulated by the Netherlands Authority for the Financial Markets. For full disclosures, visit blackrock.com/corporate/compliance/bid-disclosures.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.