The asset‑management community received a fresh data set on Wednesday as Zephyr—a subsidiary of Informa plc (LSE: INF) and a long‑standing provider of software for wealth and asset managers—published its annual PSN Outlook for 2026. The report, compiled with contributions from twelve leading investment firms, offers a snapshot of the current state of separately managed accounts (SMAs) and outlines how AI‑powered analytics are reshaping decision‑making across the sector.
A collaborative snapshot of the SMA landscape
Zephyr invited a cross‑section of managers to contribute short articles that together form the backbone of the Outlook. The contributors and their topics are as follows:
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- 2026 Economic and Fixed Income Outlook – Oppenheimer Investment Management
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- Aligning Capital with Data‑Driven Science, via Diversified Climate‑Action SMAs – HIP Investor
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- Why Skills Matter More Than Returns – Aapryl (a subsidiary of Xponance)
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- Market Pitfalls and How to Minimize Them – AMI Asset Management
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- Emerging Markets 2026: Structural Strength Beneath the Headlines – Boston Common Asset Management
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- The Incredible Shrinking Stock Market – Horizon Investment Services
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- Separately Managed Accounts: Positioning Portfolios for 2026 and Beyond – One Oak
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- What Now? Allocating to Gold After the Run Up – Stansberry Asset Management
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- Investor Behavior Is Often Driven by Recent Performance – Aurora Investment Counsel
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- Delivering Efficient, Disciplined Portfolio Management with SMAs – Argus Investors Counsel Inc.
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- Managing SMAs for the Future – Martin Investment Management LLC
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- A Contrarian Case for Software: Why Physical AI May Be the Next Great Frontier – Katam Hill
Each piece blends market commentary with practical guidance, and many authors reference the growing role of machine‑learning models in portfolio construction, risk monitoring, and client reporting.
What the Outlook actually says
The report’s opening paragraph sets the stage: as SMAs continue to expand, managers are seeking deeper insight into performance drivers and client expectations. Zephyr’s platform, which integrates AI‑based analytics, is positioned as a conduit for delivering those insights at scale.
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- Economic headwinds and fixed‑income volatility remain central concerns, prompting managers to explore AI‑enhanced yield‑curve modeling.
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- Climate‑action SMAs are gaining traction, with data‑driven scoring systems helping investors evaluate ESG impact alongside traditional risk metrics.
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- Skill‑focused investment philosophies are emerging, as firms leverage natural‑language processing to parse analyst notes and surface hidden expertise.
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- Emerging‑market exposure is being reassessed through predictive analytics that factor in geopolitical risk and supply‑chain disruptions.
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- Gold allocation strategies are being refined using pattern‑recognition algorithms that detect short‑term price anomalies.
Collectively, the Outlook underscores a shift from static, rule‑based portfolio construction toward dynamic, AI‑augmented processes that can adapt to market turbulence in near real time.
Recognition for the 2025 edition adds weight
Zephyr’s 2025 PSN Outlook earned finalist status in two separate industry awards: the WealthManagement.com Industry Awards and the ThinkAdvisor Luminaries Awards. Those nominations, cited in the new release, highlight the publication’s growing influence among wealth‑management professionals and suggest that the 2026 edition will likely attract similar attention.
Quote from Zephyr’s leadership
“The SMA space has grown exponentially over the past year, presenting unparalleled opportunities for asset managers to connect with wealth managers and plan sponsors seeking to perform essential due diligence,” said Chris Volpe, Director of Wealth Management Solutions and Head of Zephyr. “As we look ahead, we are excited to unveil Zephyr’s PSN Outlook for 2026—a testament to the continued evolution of our platform and the invaluable contributions of our partners.”
Annual SMA Poll: a call for broader participation
In addition to the Outlook, Zephyr promotes its Annual SMA Poll, a survey designed to gauge sentiment across different firm types and asset classes. The poll is open to investment professionals who wish to benchmark their own SMA strategies against industry trends. Results will be compiled and released later in the year, offering another data point for firms that rely on AI‑driven benchmarking tools.
Why enterprises should take note
For technology leaders in the financial services space, the PSN Outlook 2026 serves as more than a market‑trend document; it is a practical illustration of how AI can be woven into the fabric of asset‑management workflows:
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- Scalable analytics: Zephyr’s platform demonstrates that AI models can handle the volume and velocity of SMA data without sacrificing accuracy.
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- Regulatory compliance: By embedding explainable‑AI features, the platform helps firms meet increasing transparency requirements from regulators.
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- Client‑facing insights: AI‑generated visualizations and scenario analyses can be delivered directly to advisors, enhancing the client experience and supporting digital transformation initiatives.
Enterprises evaluating new fintech solutions can look to the Outlook’s contributors as a litmus test for best practices in AI adoption across the SMA segment.
Looking ahead
The PSN Outlook for 2026 arrives at a moment when the convergence of AI, ESG considerations, and evolving client expectations is reshaping the asset‑management landscape. While the report itself refrains from making bold performance projections, its emphasis on data‑driven decision‑making suggests that firms that invest in robust AI infrastructure will be better positioned to capture emerging opportunities.
