The Investment Institute by UniCredit.
We live in the age of complexity. Over the last three decades, the global economy has grown exponentially more intricate, shaped by the interplay of macroeconomic, financial, technological, and geopolitical forces. We are now at a pivotal juncture. Old rules, norms and patterns no longer fully apply. Globalisation is retrenching. Pax Americana is fading. Artificial intelligence will change our way of working, living and thinking. A new capitalist era, characterised by less market and more state, is in the making. As the global economy and financial markets adapt to these shifts and shocks, we find ourselves operating in a far less certain environment for investment, one that demands deeper insights, faster communication, and more interdisciplinary thinking.

Manuela D’Onofrio, Head of Group Investment Strategy (GIS) and Chair of the Investment Institute by UniCredit.

“We are excited to announce the launch of The Investment Institute by UniCredit – designed to provide the expert analysis you need to navigate these turbulent times for your investment and asset allocation decisions. Our motto is Decoding complexity. Unlocking opportunity. Uncertainty, if properly interpreted, can yield rewarding opportunities.” - 28 Jan 2025



Manuela D’Onofrio, Head of Group Investment Strategy (GIS) and Chair of the Investment Institute by UniCredit.





Fabio Petti, Head of Cross Asset Investment Strategy, (GIS) and co-Chair of the Investment Institute by UniCredit.

“Our mission is simple. We aim to help you disentangle the complexity of the world while delivering to you our ideas and insights with a light touch. Besides traditional publications, we will offer podcasts, videos, and events with prominent global thought leaders, fostering an environment open to dynamic intellectual exchange. High-quality content will be accompanied by an engaging design for the best reading experience.” - 28 Jan 2025


Fabio Petti, Head of Cross Asset Investment Strategy, (GIS) and co-Chair of the Investment Institute by UniCredit.





Edoardo Campanella, Director and Chief Editor of the Investment Institute by UniCredit.

“We will focus on the main macroeconomic, geopolitical and market stories of the day, while offering our perspective on the megatrends that will reshape the global economy in the distant future, from new tech frontiers to demographic shifts and climate change. We will zoom in and out, back and forth, to connect the dots and see more clearly where the world is heading.” - 28 Jan 2025


Edoardo Campanella, Director and Chief Editor of the Investment Institute by UniCredit.

The Compass 2025

A compass laying next to a globe

Annual outlook focusing on the key macro and market stories of the upcoming year. It provides a European perspective on global issues, drawing implications for investment decisions. Our flagship annual publication, with contributions from our full cohort of analysts, bringing originality and diversity to the debate.


Download the PDF >
Read the digital summary >

Our views and insights

Daily Coffee Break

Our daily publication offering topical insights as an intellectual ingot to start the day. Designed to be succinct and thought-provoking, our aim is to offer new ways of thinking and original insights on the latest macro and strategy concerns.

18 Jul 2025: Japanese equities steady despite inflation concerns >
17 Jul 2025: Tariff volatility boosts revenue outlook for US banks >
16 Jul 2025: Election in Japan to spark more USD-JPY volatility >
15 Jul 2025: Is it still worth going to university? >
14 Jul 2025: Trump’s tariff letters: cutting through the noise >

The Bottom Line

Wrapping up the week with key insights delivered in a succinct and engaging summary. Highlighting things to watch as a teaser for the following week across data, markets, politics, and Central Bank meetings.

18 Jul 2025: The Bottom Line - ECB to pause >
11 Jul 2025: The Bottom Line - Higher US inflation in June, and more to come >
04 Jul 2025: The Bottom Line - Tariff deadline looms >
27 Jun 2025: The Bottom Line - No policy signal from Sintra  >
20 Jun 2025: The Bottom Line - NATO’s 5% defence-spending push >

Letter from the editor

Central Banks Watch

The Compass Checkpoint

Our regular viewpoint on shifts and shocks in markets. Bring together insights from the CIOs in our core markets, to act as a staple publication to stay at the forefront of the latest activity in the markets and their implications.

16 Jul 2025: Empty threats >
22 May 2025: The negotiations limbo >
10 Apr 2025: The Trump Tariffs Rollercoaster >
27 Feb 2025: Adapting to Trump 2.0 >

The Short View

The Long View

Publishing every month or so, putting the spotlight on Mega Trends. Original and thought-provoking analysis highlighting the broadening scale, scope and impact of increasing global complexity.

24 Apr 2025: Ukraine’s hidden mineral wealth and the deal with the US >
04 Jun 2025: Launching our longevity series >
13 May 2025: Bridging the gaps to defend Europe’s future >
08 May 2025: Reviving Europe’s investments in green tech >

Quarterly Updates

Every three months, publishing a slide deck of forecasts for our core economies and asset classes. Providing in-depth review and analysis to become an essential part of our client’s investment toolkit.

20 Jun 2025: Navigating the tariff tide >
19 Mar 2025: Living in a Trumpian world >

Voices From the Future

Publishing around three editions a year, a magazine-style publication with each issue devoted to a specific mega trend including interviews with experts and analysis from the Investment Institute team.