Investment themes
Our key investment themes are designed to have long-term relevance and to identify continuing investment opportunities. Browse the latest reports published by our global Chief Investment Office (CIO).
Our latest reports
CIO Special report
Bottoming out in the German housing market
It remains a challenging environment for the German housing market, but rate cuts, economic growth and structural rental market shortages should help the market to bottom out.
Apr. 30, 2024
Future Fundamentals podcast
Investing in the Blue Economy: a blueprint for action
In our Future Fundamentals podcast, Karen Sack, of ORRAA, and Markus Müller, our Chief Investment Officer for ESG, take a deep dive into the sustainable blue economy.
Apr. 26, 2024
CIO Special report
Long-term Capital Market Assumptions: our latest forecasts
These form a vital component some systematic long-term asset allocation approaches. We highlight significant developments since our last review and the reasons for them.
Apr. 24, 2024
CIO Special report
China’s economy: awaiting the right cues
China recently released a flurry of Q1 economic data. But while GDP numbers were surprisingly strong, some other activity measures continue to disappoint. So has China’s economy really turned a corner?
Apr. 18, 2024
CIO Special report
Atmosphere: Shield of the earth
The third in our trilogy of keynote presentations on the Earth's "Life Pillars" explains why climate-related risks and opportunities should be important considerations for investors with regard to long-term portfolio development.
Mar. 26, 2024
CIO Viewpoint
Gold: still time to shine
The gold price has reached successive record highs in recent weeks. Could it rise further in the medium term?
Mar. 20, 2024
CIO Special report
Smart Mobility: EVs and batteries present opportunities and risks
Favourable long-term trends for the electric-vehicle market remain intact – but an excess supply of battery metals means the outlook for miners remains clouded.
Mar. 19, 2024
CIO Special report
LTIT: Sustainable Food Systems – favourable entry points ahead?
Sustainable food systems (SFS) deliver food security and nutrition in ways that are sustainable in economic, social and environmental terms. Transitioning towards sustainable food systems could open up business opportunities worth USD4.5 trillion per year by 2030.
Mar. 11, 2024
CIO Special report
India: Will a billion voters move markets in the world’s biggest democratic election?
India, the world’s largest democracy, is heading to a national vote, with results expected by the end of May. Almost one billion registered voters will make this the biggest election exercise anywhere, ever.
Mar. 07, 2024
CIO Special report
Why women’s financial inclusion matters
The empowerment of women in the labour force is important in ways that go beyond the critical matter of social justice. Female financial inclusion and gender equality are “macrocritical” to boosting economic activity.
Mar. 07, 2024
CIO Special report
U.S. Election: ‘Super Tuesday’ moves Biden-Trump closer
In a year that has been claimed to be the busiest in history for political elections, there will be no bigger event in the calendar than the race to be President of the United States, due to be held on November 5th.
Mar. 05, 2024
CIO Special report
Asset allocation for private clients
Strategic asset allocation for private clients starts with detailed knowledge of an investor’s risk profile, investment horizon, and performance targets, among other considerations.
Feb. 23, 2024
CIO Special report
Long-term investment theme Digitisation: going to the next level
For investors, digitisation provides a wide range of investment alternatives, with business activities such as cloud computing, Internet of Things (IoT), digital entertainment, and others showing substantial growth potential.
Feb. 19, 2024
CIO Special report
Consumption recovery through 2024 provides opportunities
Consumers are holding up relatively well in the U.S. and Europe, despite a weaker economic environment. This could yield interesting opportunities in the stock market, particularly in the area of discretionary consumption.
Feb. 02, 2024
CIO Special report
Greece: back to economic health
Compared to the eurozone overall, Greece could experience slightly higher economic growth in the coming years, in particular due to a resurgence in private consumption.
Jan. 29, 2024
CIO Special report
Managing investment uncertainty with asymmetric strategies
Adherence to strong convictions in the face of market-moving events can potentially trigger undesirable timing mistakes. Asymmetric strategies can allow more potential upside for a given portfolio risk.
Jan. 19, 2024
CIO Special report
Spain: lower GDP growth in 2024
The Spanish economy has shown remarkable resilience during 2023, but the latest indicators point to a slowdown. A complex political environment will make it more difficult to address some important challenges.
Dec. 05, 2023
CIO Special report
U.S. Election: Running up that hill
In our new CIO Special – U.S. Election: Running up that hill, we explore the political landscape of the upcoming Presidential elections, key issues that will shape the narrative for the race and its potential impact for investors.
Nov. 22, 2023
CIO Special report
ESG & investment performance: think strategically
The key to sustained long-term returns from ESG investment is effective strategic asset allocation.
Oct. 24, 2023
CIO Special report
Smart mobility: switch, optimise, prioritise
Once we looked to technology to make transportation systems cheaper, faster or safer. But “smart mobility” needs to be more sustainable too - and the primary challenge may be social in nature.
Oct. 20, 2023
Future Fundamentals podcast
Sustainable cities
The Private Bank’s ESG CIO Markus Müller and Dr. Philipp Rode of the London School of Economics (LSE) look at how cities can adapt to increasing social, economic and environmental pressures in an ever-more urbanised world.
Oct. 17, 2023
CIO Special report
Rise in Italian government bond spreads
The recent discussions regarding looser fiscal policy in Italy have exacerbated the volatility on the bond market, leading to a moderate widening of its spreads.
Oct. 13, 2023
CIO Special report
What Global South developments mean for Asia
The expansion of the BRICS coalition, with six nations set to join at the start of 2024, will provide the group with increased access to mineral resources and impact global supply chains.
Oct. 12, 2023
CIO Special report
ESG investment: understanding system changes
Environmental constraints mean that system changes will be necessary to meet four key human demands –for energy, food, manufacturing and mobility.
Oct. 11, 2023
CIO Special report
Strengthen the competitiveness of the German economy
The German economy is faltering and there is a growing debate about the appropriate policy response, but we remain confident that the country can address its structural challenges.
Sep. 15, 2023
CIO Special report
Land resources: Conservation and regeneration
Our planet provides an abundance of land-based resources that we use to meet our needs, but just five key demand areas - cement, aluminium, steel, plastics, and food - account for around 37% of global CO2 emissions.
Aug. 22, 2023
Future Fundamentals podcast
Measuring sustainability
Deutsche Bank Private Bank’s ESG CIO Markus Müller and Anna Katharina Mayer, Club of Rome member and FindingSustainia co-founder, look at the complex issues around measuring sustainability – in other words, how we assess the real impact of corporate, government and individual actions on the natural world around us.
Aug. 21, 2023
CIO Special report
Corporate bonds in the U.S. and Eurozone – risks and opportunities
The ratings for investment-grade corporate bonds in the U.S. and the Eurozone have developed positively recently - despite difficult economic conditions.
Aug. 11, 2023
CIO Special report
China: Looking beyond the near-term challenges
The Chinese government has left no doubt that it is serious about addressing the country's sluggish growth with targeted support measures, but recent economic data confirm the near-term challenges.
Aug. 11, 2023
CIO Nature Series
Rainforests: the Earth’s green lung
Rainforests provide invaluable ecosystem services supporting climate management, biodiversity, and rural livelihoods—but they are also fragile. In this publication, we focus on four key concerns: deforestation, climate change, poaching and illegal trade, and mining and oil extraction
Aug. 02, 2023
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