RESERVE · RESEARCH & ADVISORYThe 2026 outlook: growth is increasingly uneven
Use macroeconomic scenarios to challenge a business plan, not replace one.
INDUSTRIES
Economy & capital
Macroeconomics, tokenisation, securities, valuation and cross-border capital.
Illustrative photography. Not a GIS Reserve project or client.
Global economyTokenisationSecurities & IPOM&A and private capital
9 research briefs
Asia capital origination: fit the mandate
Private equity, HNWI and sovereign investors have different mandates and decision processes.
Securities and IPO readiness: evidence before the story
Listing preparation begins with controls, reliable reporting and an explainable business model.
Cross-border M&A: diligence beyond the multiple
The value of an acquisition depends on what can actually be transferred and integrated.
Enterprise valuation when capital gets expensive
Higher financing costs can reduce value even when operating earnings remain unchanged.
Tokenisation: a claim is only as strong as its rights
Begin with ownership, transfer and enforcement before choosing a blockchain.
The capital stack: startup, growth and mature assets
Match the funding instrument to cash-flow maturity and the purpose of capital.
Business continuity: cash runway before growth
The pandemic-era lesson is to measure survival in cash weeks, not accounting profit.
China plus one: the real cost of a second supply chain
A second production base only creates resilience if it survives a full delivered-cost comparison.