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2025 Mid-year Investment Outlook

New regime, new reality: Time to adapt?

2026-06-30
Archived info
Archived pieces remain available on the site. Please consider the publish date while reading these older pieces.
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The views expressed are those of the authors at the time of writing. Other teams may hold different views and make different investment decisions. The value of your investment may become worth more or less than at the time of original investment. While any third-party data used is considered reliable, its accuracy is not guaranteed. For professional, institutional, or accredited investors only.

Adapting to evolving markets in 2025

The first half of 2025 has reinforced our view that we are entering a new investing regime. According to Natasha Brook-Walters, Head of Wellington Solutions, an evolving market environment should prompt investors to adapt. What could this mean for diversification, income and the public/private markets shift?

Outlook contents

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Global Economic Outlook

In their mid-year outlook, Macro Strategists John Butler and Eoin O’ Callaghan discuss how the global policy response to the trade shock could misfire, with major implications for investors.

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Bond Market Outlook

In their mid-year Bond Market Outlook, Investment Directors Amar Reganti and Marco Giordano and Portfolio Manager Campe Goodman tackle questions that are likely to be top of bond investors' minds during the second half of 2025.

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Equity Outlook

It might feel like the narrative of US exceptionalism has only been questioned in recent months but Equity Strategist Andrew Heiskell and Macro Strategist Nicolas Wylenzek see Trump’s tariff announcements as the clearest signal yet of a shift that has already been underway for nearly a decade.

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