by Marina Gardiner, Research Editor, Elston Consulting
Since the “polycrises” of recent years, we are learning to live with inflation and live with volatility. Ensuring that a portfolio is sensibly allocated and diversified should help to mitigate the adverse effects of political or economic shocks. A properly diversified approach designed to fare reasonably in all market conditions is known as an ‘All-Weather’ strategy.
When the conflict in the Gulf started, and the Strait Hormuz closed to shipping, the world was staring down the barrel of the largest energy shock in history. 
Reflections on a keynote address by Sir Richard Moore, Former Chief (‘C’) of the UK Secret Intelligence Service (2020–2025) (MI6) in conversation with Emma Walden at FundsForum Monaco 2026.
The closing session of IMpower FundForum 2026 in Monaco asked how leading multi-asset CIOs manage uncertainty when politics trumps economics, and whether the traditional 60/40 portfolio still deserves its place. Four allocators took the stage: Rémi Lambert of BNP Paribas Asset Management, Piers Hillier of Jupiter Asset Management, Demir Bektic of Commerzbank Wealth and Asset Management, and Henry Cobbe, founder and head of research at Elston Consulting. Luke Hyde-Smith, Head of Multi-Asset at W1M moderated the discussion. The discussion was held under the Chatham House Rule.
At this year's FundForum in Monaco, Elston Consulting's Portfolio Strategist, Andrea Acimovic, joined panellists from TrinityBridge, Evelyn Partners and Morningstar to discuss one of the defining trends in asset management: the extraordinary growth of ETFs and the structural challenges emerging alongside it.
Elston Consulting marks a major milestone with total related assets exceeding £3bn (as of end May 2026) for the first time. This growth highlights a significant structural shift in the UK advisory market, as 71% of Elston’s £2.2bn MPS-related assets are now held with co-manufactured custom or tailored portfolios rather than standard off-the-shelf portfolios.
At the end of May 2026, there were over £3.0bn of assets invested across strategies designed by Elston Consulting, made up of £2.2bn in MPS managed by Elston Portfolio Management, and £800m in funds using Elston’s research and/or indices. 
The UK Government is continuing its push to encourage greater participation in long-term investing, with ISA reform forming part of a broader agenda that includes the Mansion House Accords and initiatives designed to improve engagement with investing like the £50m "Savvy Squirrel" advertising campaign. The stated policy objective is clear: to encourage retail investment and support better long-term returns for savers by directing more capital towards productive assets rather than cash savings.
With the Strait of Hormuz reopening and the war premium unwinding, markets have swung back to risk-on. Henry Cobbe and Hoshang Daroga discuss what the AI capex cycle, a fragile gilt market and a repriced gold trade mean for portfolios into the second half of 2026.
 Andrea Acimovic, portfolio strategist at Elston, was a panellist at FundForum 2026 - the world’s largest investment fund conference. In her panel discussion she explored the key drivers and obstacles to ETF adoption in the UK retail market.
Read more here.
Kwasi Kwarteng (former UK Chancellor) discusses UK growth (and yes that Budget) and what is needed to get back on track.
Admiral Tony Radakin (former UK Chief of Defence Staff) speaks on the changing global security landscape and the need for preparedness.
Quarterly investment outlook update from the Elston team with guest speaker Natasha Sarkaria from BlackRock.
With warmest wishes to all those in the British Armed Forces Reserves 
Congratulations to the winning crews Thames Rowing Club, Oxford Brooks University Boat Club and St Paul's School Boat Club, in Club, Student, and Junior categories respectively! Elston Consulting, founded in 2012 by former rower Henry Cobbe, supports British Rowing by supporting London Youth Rowing, National Schools Regatta, and this year for the first time by sponsoring the Marlow Regatta Grand Challenge Cup which is divided into three categories - Club, University/Student and School/Junior.     
The world is changing: revolutions in technology, defence and energy are creating a need for physical, economic and portfolio resilience.
From an investment perspective we explore ways to ensure portfolio resilience to adapt to these paradigm shifts with a focus on:
Watch the playback here on our BrightTalk Channel For UK IFAs/DFMs/Professional Investors only.
General Lord Dannatt (former UK Chief of the General Staff, 2006–09), speaking at the Elston Lombard Lunch on the changing global security landscape and the need for preparedness.
Watch the playback hereon our BrightTalk Channel For UK IFAs/DFMs/Professional Investors only.
Elston Consulting has officially crossed a major milestone, with total related assets reaching £3.0bn as of late spring 2026. This growth highlights a significant structural shift in the UK advisory market, as 71% of Elston’s £2.2bn MPS assets are now held within co-manufactured custom portfolios rather than standard off-the-shelf options. Read the full breakdown of our portfolio and fund metrics, alongside a statement from our founder on our continued transition toward an implemented consulting model.
Henry Cobbe CFA, Head of Research at Elston Consulting discusses why and how retail investors are being attracted to the SpaceX IPO and what the key considerations are
Henry Cobbe CFA, Head of Research at Elston Consulting outlines whether and how index providers, fund managers and portfolio managers are preparing for the the SpaceX IPO
Just as major supermarkets achieve better consumer value by manufacturing their own white-label goods, discretionary managers can utilize proprietary fund structures to lower institutional costs and improve execution agility. However, smaller arrangements lacking scale risk running afoul of regulatory standards on product governance and distributor-influenced rules.
|
ELSTON RESEARCHinsights inform solutions Categories
All
Archives
July 2026
|
RSS Feed
|
Company
|
Our Solutions
|
|