Walkers Fundamentals Asia & Middle East: White Paper for 2026

Feb 5, 2026

Shades of yellow, pink and purple - light, medium, and dark - displayed curves and waves

Each year we review the terms and trends in the new funds we help to launch across the region, with a particular focus on activity in Hong Kong, Singapore, Japan, the People’s Republic of China and, via our office in Dubai, the Middle East.

This paper brings together that data with insights shared by our clients over the last 12 months. Our aim is to give managers and investors a clear view of what is driving the regional investment funds market, and the pressures and opportunities likely to define the year ahead.

Read the full Asia & Middle East white paper

It sits alongside our global Fundamentals white paper, which is available here.

Last year, in our Asia & Middle East Fundamentals white paper, we described 2024 as ‘eventful’. We had not anticipated just how much 2025 would evolve. As conflicts continued in Ukraine and Gaza, geopolitics shifted from acute to chronic. AI investment and market activity began to resemble a bubble. Sudden developments, including Liberation Day, caught many investors and commentators by surprise. By December, it was clear that 2025 had ensured we still lived in ‘interesting times’.

While some of this volatility is reflected in the data we have collected, there are also signs of cautious optimism. Managers and investors appear to be adjusting to uncertainty as a norm rather than an exception. The result is a more balanced picture: one that shows continued resilience across the region and measured confidence in future opportunities.