Insight Invesco Global Sovereign Asset Management Study 2026

29 June 2026
Hong Kong skyline at dusk overlooking Victoria Harbour, with dense high-rise buildings in the foreground, illuminated skyscrapers along the waterfront, and boats moving across the water against a backdrop of mountains.

In 2026, sovereign investors find themselves in the middle of a broad-based reassessment. This year’s study, the 14th in the series, revisits assumptions that shaped portfolio construction over the past decade — what diversification actually delivers, where returns will come from, how much can be relied on from passive market exposure, and whether the financial infrastructure that sovereign investors rely on can be taken for granted in the way it once was.

This year, we surveyed 144 senior investment professionals from 90 sovereign funds and 54 central banks, who collectively manage approximately US$29 trillion in assets. The study provides unique insights into the investment objectives and behaviours of sovereign investors and central ban.

Five key themes emerged:

  1. Resilience moves to the centre of portfolio design.
  2. Long-term sovereign investments face a less supportive world.
  3. ETF adoptions among sovereign investors and central banks are expanding.
  4. AI sits at the centre of both tension and opportunity for sovereign investors.
  5. Central banks are seeking diversification as the management playbook changes.

Inform your thinking

Together, the five themes reflect the scale of the change under way, with implications for portfolio construction, governance, technology, and the institutional foundations on which long-term investing depends. Read our full study today and discover our findings.

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  • Investment risks

    The value of investments and any income will fluctuate (this may partly be the result of exchange rate fluctuations) and investors may not get back the full amount invested. 

    Important information

    All data as at 31st March 2026

    This document is marketing material and is not intended as a recommendation to invest in any particular asset class, security or strategy. Regulatory requirements that require impartiality of investment/investment strategy recommendations are therefore not applicable nor are any prohibitions to trade before publication. The information provided is for illustrative purposes only, it should not be relied upon as recommendations to buy or sell securities.

    Where individuals or the business have expressed opinions, they are based on current market conditions, they may differ from those of other investment professionals, they are subject to change without notice and are not to be construed as investment advice.