Building on the findings of our recent Global Asset Manager Peer Study 2026, and in collaboration with CAIA Association, we have produced a new paper: An expanding mandate | A systems-level framework for asset management.
This report sets out both a mindset shift and a practical case for system-level investing. At a time when investment management’s prevailing mental models are clashing with an increasingly complex and uncertain operating environment, we believe “expanding the mandate” is now essential. To this purpose, the report takes a threefold approach: the what, the why, and the how.
The two authors, Andrea Caloisi, Researcher at Thinking Ahead, and Aaron Filbeck, Managing Director, Content & Community Strategy at CAIA Association, dive into some of the paper’s key findings and offer a call to action for the asset management industry. Read the Q&A >
Explore the paper
Section 1 Inside-out: How managers shape the ecosystem
- Macro | The future systemic points of pressure
- Meso | Broadening purpose and vision
Section 2 Outside-in: How managers may adapt to the evolving ecosystem
- Micro I: Organisational effectiveness
- Micro ||: Organisational preparedness
Conclusion: The system and the future are no longer ahead of us
Call to action: How asset management can adapt
Asset management is running out of road with old playbooks. In a world shaped by interconnected risks, structural change and rising client demands, benchmark-relative thinking alone is no longer enough. Firms need to adapt to a more integrated, systems-level view to stay relevant. Too many asset managers are still clinging to models built for a simpler era. The uncomfortable truth is that relevance is already being reallocated by asset owners – quietly but decisively – to those that have retooled their organisations for this new reality.
The era of skills training in investment management has officially given way to lateral, meta level thinking. Geopolitical fragmentation, technological disruption, demographic shifts, and the growing convergence of public and private markets require a broader lens that can connect dots across several disciplines. This report underscores why systems-level thinking is becoming a strategic necessity for investment organizations seeking to remain relevant, resilient, and aligned with the evolving needs of asset owners.
Marisa Hall,
Head of the Thinking Ahead Institute
John Bowman,
CEO, CAIA Association
More resources
Blog: A self-reported asset management industry snapshot on Org-Alpha
Insights from the Global Asset Manager Peer Study, by Andrea Caloisi, Researcher at Thinking Ahead.
Global Asset Manager Peer Study 2026
By Andrea Caloisi, Thinking Ahead and Aaron Filbeck, CAIA Association
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An Expanding Mandate | A systems-level framework for asset management
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Join the live conversation: Investment Industry of Tomorrow
We’re teaming up with CAIA for a live event in London on Thursday 10 September – bringing the paper to life with insights from organisations leading the way.
Find out more about the event and join us >
