Market GPS
Manager
outlooks 2025
Investment team insights to help you navigate the risks and opportunities ahead. Explore asset class overviews and more focused outlooks from our portfolio manager experts.
Equities
Featured Outlook
A more dynamic playing field for equity investors
Heads of Equities Marc Pinto and Lucas Klein outline why a market broadening that started in 2024 could continue into the year ahead, creating opportunities for active investors.
Global themes are where European equities can find their magic
Portfolio Manager Tom O’Hara discusses favourable geopolitical dynamics and a potential cyclical recovery for European equities in 2025.
Fundamentals underpinning global tech’s market leadership
Innovative products aimed at delivering efficiencies across the global economy position the technology sector to compound earnings growth over a multi-year horizon.
Sustainable Equities outlook: The future is still electric under a Trump administration
Hamish Chamberlayne revisits Trump’s first presidency, suggesting his second term presents compelling sustainable investment opportunities.
Fixed Income
Featured Outlook
Stargazing in 2025: Bond market opportunities
As shifting politics collide with economic realities, what might this mean for fixed income? Jim Cielinski, Head of Global Fixed Income, focuses the telescope on prospects for the new year.
Yield on the table: Why multisector may make sense in 2025
John Lloyd shares his views on the attractiveness of a multi-sector approach to fixed income investing in his 2025 outlook.
Going global: Short-duration bonds well positioned for economic divergence
Daniel Siluk explains why diverging policy paths may create opportunities for globally minded bond investors to generate steady income and increase diversification within broader portfolios.
Key trends driving U.S. securitized fixed income in 2025
John Kerschner shares his U.S. securitized outlook, identifying the key trends he believes will drive investment returns in 2025.
Multi-Asset & Alternatives
Featured Outlook
Widening the aperture in a late-cycle economy
Adam Hetts, Global Head of Multi-Asset, balances the opportunities presented by the extension of the economic cycle and the risks posed by policy uncertainty and elevated valuations.
Alternatives – all potential outcomes are on the table for 2025
Should investors consider allocating more to liquid alternatives in an era where disruption might become the norm?
Featured Insights
There is no guarantee that past trends will continue, or forecasts will be realised.