As markets nervously embrace the new conditions in the Middle East, we take the opportunity to review how our Smart Alpha strategies have fared in March 2026.
Author: Chris Tinker
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Weather Report March 2026 
The end of the month, the end of the first quarter and the emergence of a changing landscape for the markets and the real world. Our latest weather report takes a look through the “Apollo lens” at the events of the last month and adds in some broader thoughts on how markets are evolving in response.
As equity investor concerns increase over lower beta return expectations from the market portfolio, increased levels of correlations between fixed income and equities and ever higher levels of benchmark concentration, the focus shifts to portfolio construction. By extending our existing Smart Alpha framework we have developed a set of positively convex, all equity portfolios that simultaneously magnify upside returns and hedge downside risks – providing a best-of-all worlds solution to equity risk and return.
This month’s weather report is more of a weather alert as markets enter a “Chaos phase”. What we can see is where we have entered the current period of market turbulence from – those are our initial starting conditions. As for the outlook ahead? We have no visibility right now but we must go forward anyway…
Entering into February, we take a look back at the weather report for January 2026 and take a view on what might lie ahead in H1.
As global equity markets look ahead to the coming year, we summarise the year that has gone and look forward to the New Horizons of 2026 through the lens of Apollo.
Catfish season… We call our regular Apollo based commentary “The Weather report”. The analogies that we can make with the multiple elements of Value, Momentum and Uncertainty impacting markets in a continuous way chimes nicely with the idea of Currents, Tides and Winds, all impacting the navigation of the high seas. Whatever the nature of the vessel […]
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Weather Report October 2025
Do traditional market patterns still matter in the age of AI and the 2025 surge in retail investor flows? As we enter November, we review what Tail winds might persist into year end.
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Weather Report September 2025
Storm season arrives We call our regular Apollo based commentary “The Weather report”. The analogies that we can make with the multiple elements of Value, Momentum and Uncertainty impacting markets in a continuous way chimes nicely with the idea of Currents, Tides and Winds, all impacting the navigation of the high seas. Whatever the nature of […]
As summer ends, we move into more autumnal conditions in the markets. Things remain relatively stead but we can expect a pick up in the weather ahead as corporate reports and macro factors start to set the course to year end.