Editor's Thoughts.

2026 is quietly turning into a reset year – in politics, markets and governance – and it is starting to test that comfortable “set‑and‑forget” mindset many of us have used for our retirement and investment strategies. Avoiding knee‑jerk reactions, as Johan Minnie (Momentum) rightly cautions, still matters. But pretending nothing has changed probably doesn’t.

On the investment side, Ninety One’s EM team argues that emerging markets are no longer just the risky corner of a portfolio. Stronger policy frameworks, higher real yields and structural themes like energy transition and AI infrastructure are making EM debt, equity and private credit look increasingly compelling relative to developed markets. And while we are rethinking where returns come from, today’s Heatwave Horizons episode with Anton Cartwright (Econologic & Credible Carbon) explores how carbon credits fit into the investment toolkit – for businesses and, increasingly, for individual investors. Perhaps carbon credits are this season’s wedding gift of choice?

Governance is resetting too. In an EBnet exclusive, Nicole Martens (Just Share) unpacks why binding votes on executive pay are progress, but no guarantee of fairer outcomes. The real work now sits with boards and investors: will they use these tools to drive genuine accountability, or just upgrade the compliance theatre? And Keith Peter (Old Mutual) looks at advice through a COFI lens.

All of this sets the scene for next week’s Batseta Winter Conference. I am especially keen to hear Finance Minister Enoch Godongwana’s keynote: “A New Era of African Prosperity: Harnessing Pension Capital for Nation‑Building and Continental Transformation.”

Maybe it is not about throwing out our long‑term plans, but about accepting that “set and forget” is slowly becoming “be willing to reset” – let me go grab a(nother) cup of coffee and contemplate this more.

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