Key Takeaways
- • Ben Way of Macquarie Asset Management, speaking at the FIS 2026 Fiduciary Investors Symposium at Harvard University, argues that deglobalisation is the next inflection point for real assets.
- • Global governments are increasingly partnering with private investors on infrastructure and real asset development, according to the article's opening passage.
- • The article is a partial excerpt from Top1000funds.com; the full detail of Way's argument is behind a subscription paywall.
- • The same FIS 2026 event featured related institutional debates on impact investing scale, responsible investing, private credit redemptions and private equity return measurement.
Summary
Ben Way, of Macquarie Asset Management, has framed deglobalisation as the next inflection point for real assets, according to a Top1000funds.com report from the FIS 2026 Fiduciary Investors Symposium at Harvard University. The excerpt notes that global governments are partnering with private capital, a theme that positions real assets as a beneficiary of shifting trade and supply-chain patterns. The full article, which contains Way's detailed reasoning, is available only to subscribers, so the specific figures and examples he cited cannot be confirmed from the available text.
The same symposium coverage on Top1000funds.com included several related institutional themes. Impact investing has grown from a niche strategy into a $1.5 trillion industry, but it still faces obstacles to reaching institutional scale, including a shortage of products and insufficient evidence of outperformance in some segments. Separately, Massachusetts PRIM chair and state Treasurer Deborah Goldberg said responsible investing remains "common sense" for the $116 billion fund, although accessing ESG-related information from managers and companies has become harder.
Other sessions addressed private markets governance and macro risk. RSIC chief executive Michael Hitchcock said crises are the true test of LP-GP relationships, citing Blue Owl Capital's redemption pressures in its private credit funds. Harvard economist Jason Furman argued that the path of US inflation depends partly on Federal Reserve independence. Loomis Sayles' Aziz Hamzaogullari challenged the premium typically assigned to private equity, arguing its return measurement, hidden risks and fees are overlooked by allocators.
The same symposium coverage on Top1000funds.com included several related institutional themes. Impact investing has grown from a niche strategy into a $1.5 trillion industry, but it still faces obstacles to reaching institutional scale, including a shortage of products and insufficient evidence of outperformance in some segments. Separately, Massachusetts PRIM chair and state Treasurer Deborah Goldberg said responsible investing remains "common sense" for the $116 billion fund, although accessing ESG-related information from managers and companies has become harder.
Other sessions addressed private markets governance and macro risk. RSIC chief executive Michael Hitchcock said crises are the true test of LP-GP relationships, citing Blue Owl Capital's redemption pressures in its private credit funds. Harvard economist Jason Furman argued that the path of US inflation depends partly on Federal Reserve independence. Loomis Sayles' Aziz Hamzaogullari challenged the premium typically assigned to private equity, arguing its return measurement, hidden risks and fees are overlooked by allocators.
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