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.
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.
Technology stocks: AI giving the tech ‘vampire’ superpowers
As the AI tailwind begins to mature in 2025, Alison Porter says investors in technology stocks should recognise that waves are lengthy and be prepared for higher volatility.
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.
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.
High yield bonds outlook: Taking the scenic route in 2025
Brent Olson and Tom Ross view high yield bonds as offering a comfortable drive for now but expect more difficult terrain later in 2025.
Stargazing in 2025: Fixed income opportunities
As shifting politics collides with economic realities, what might this mean for fixed income? Jim Cielinski focuses the telescope on prospects for the new year.
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.
Widening the aperture: Multi-asset investing in a late-cycle economy
By taking a multi-asset and global approach, investors can uncover attractive opportunities for excess returns in 2025.
Featured Insights
Panel discussion
Our experts from across asset classes discuss their views on the route ahead and how to position accordingly.
Thursday, December 5th at 2pm GMT
Speakers: Matthew Bullock, Kareena Moledina, Luke Newman and Richard Clode
There is no guarantee that past trends will continue, or forecasts will be realised.