From a resurgent Trump-era tariff agenda to escalating geopolitical flashpoints and shifting central bank stances, the first half of 2025 has reshaped the global investment landscape. Market signals have been mixed – with resilience in some pockets and volatility in others – demanding a clear-eyed, forward-looking perspective.
In this mid-year edition of our Investment View, our portfolio managers explore the macro and market dynamics shaping the months ahead. Rather than promote a single house view, we showcase a range of perspectives grounded in independent thinking and deep expertise across asset classes.
Discover where we see the greatest risks and most compelling opportunities in equities, fixed income, convertible bonds and multi-asset portfolios — and how active management can help investors stay agile in an environment that continues to shift beneath the surface.
