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Managed Portfolio Service
Quarterly Investment Review Q3 2026
Despite a steady stream of eye-catching negative headlines, global stock markets proved impressively resilient over the third quarter. Strong corporate earnings, a robust global economy and continued momentum in the artificial intelligence (AI) investment cycle underpinned sentiment, offsetting headwinds from the ongoing conflict in the Middle East, rising oil prices and higher bond yields. Global equities returned around 1.6% over the quarter (returns total and in sterling, unless otherwise stated), led by the Japanese, UK and US markets, taking the year-to-date (YTD) return for the MSCI All Country World Index to 15.0%. In contrast, European and emerging markets posted modest declines, with the latter pausing for breath after a particularly strong first half of the year.
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