Goldman Sachs Asset Management identifies 4 structural shifts reshaping investment strategy for the next 3–5 years: (1) global supply chain reorganization (nearshoring, friend-shoring, energy security); (2) AI's second wave moving from chip makers to healthcare, fintech, logistics, and agriculture; (3) ~$80 trillion wealth transfer from Baby Boomers to younger generations, with 60% flowing to women; (4) demographic and value-driven portfolio shifts. The firm argues this is a structural break, not a cycle—meaning passive buy-and-hold strategies that dominated the past decade may underperform, while active management and diversification gain relevance. Southeast Asia stands to benefit from production base relocations out of China.