Navigator 2025.In search of a new equilibrium.

In Search of a New Equilibrium

We are pleased to count you among our Navigator readers. This Navigator edition will provide you with valuable waypoints for navigating the various market challenges in 2025, a year that certainly will have a few surprises in store. As we transition into a new economic equilibrium characterized by potentially higher inflation and interest rates, we aim to help you make informed investment decisions in this evolving landscape.

The highlights of this edition are:

• An analysis of the new U.S. administration's potential impact on economic growth and global financial markets in 2025.
• Our tactical positioning recommendations for a balanced portfolio as we enter the new investment year, considering the current economic landscape.
• Insights into the expected performance of various asset classes, including equities, bonds, and alternative investments, in light of evolving market conditions.
• An examination of potential safe haven investments for 2025, considering the changing geopolitical and economic environment.
• Our perspective on the most promising sectors and regions for investment opportunities in the coming year.