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 Perspectives: U.S. Investment Outlook 2025
Our experts from across asset classes discuss their views on the route ahead and how to position accordingly.
More lights are turning green for listed real estate in 2025
Guy Barnard discusses the alignment of multiple supportive factors for listed REITs in 2025.
A US small-cap awakening: Positive momentum for 2025
Jonathan Coleman outlines why he believes renewed strength in small caps can carry over into the new year.
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.
Are the political winds shifting in favour of bond investors?
Jenna Barnard believes political upheaval may lean in favour of bonds.
Global Perspectives: U.S. Investment Outlook 2025
Our experts from across asset classes discuss their views on the route ahead and how to position accordingly.
Adjusting the recipe: What’s the right mix for balanced portfolios in 2025?
In his 2025 outlook, Greg Wilensky outlines the most likely scenarios for the U.S. economy and the potential implications for major asset classes.
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.
Favorable winds: 2025 presents opportunities for asset allocators
Ashwin Alankar explains how forward-looking signals hint at investors being able to source attractive risk premiums across capital markets in 2025 as recession risk in many regions appears muted.
A US small-cap awakening: Positive momentum for 2025
Jonathan Coleman outlines why he believes renewed strength in small caps can carry over into the new year.
Featured Insights
There is no guarantee that past trends will continue, or forecasts will be realised.