United States, Institutional
Change
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.
At Wellington, we do not have one unified “house view” on the global economy and markets. That’s because we know that the best investment ideas are often uncovered when a diverse talent pool is encouraged to bring forward a range of unique, independent, and (at times) divergent perspectives. By debating new ideas and sharing research across asset classes, regions, and investment disciplines, our investors can uncover hidden insights, risks, and opportunities.
Mapping markets in 2025
In this video, Co-Head of Investment Strategy Natasha Brook-Walters shares how the Solutions Team is thinking about investment strategy for 2025. Market concentration, inflation and valuations will remain front of mind in the year ahead, but how can investors position for bumps in the road while also keeping a longer-term perspective?
Looking ahead to 2025, our experts see a world defined by uncertainty and change, with mixed potential impacts on global market and economic outcomes. Macro Strategists John Butler and Eoin O’Callaghan dissect five key macro themes they’re watching. Macro Strategist Juhi Dhawan focuses on the effects of incoming Trump administration policies , notably tariffs, immigration reform, taxes, and fiscal spending cuts. Fixed Income Portfolio Manager Brij Khurana breaks down specific market impacts of those policies for US equities and fixed income.
Private Equity Team members Michael Carmen, Will Craig, and Mark Watson are encouraged by the healthier environment for venture capital in 2025. In this year's outlook, they explore key themes for the year ahead, including higher deployment, AI opportunities and risks, rebounding IPOs, and the near- and long-term impacts of the 2024 US election.
In addition, our private credit experts, Emily Bannister and Sonali Wilson, highlight five critical trends for 2025: the convergence of public and private markets, AI's impact on private credit, the evolving role of banks in lending markets, the impact of higher interest rates, and the importance of financial covenants.
Our experts discuss how investors can capitalize on bond divergence in 2025. Fixed Income Strategist Amar Reganti and Investment Director Marco Giordano identify key themes to watch in rate markets while Investment Specialist Will Prentis explores the investment implications of an extended credit cycle. Delving further into the credit opportunity, Fixed Income Portfolio Managers Rob Burn and Cory Perry examine how securitized credit could help investors navigate tighter spreads.
While risks remain, growth seems poised to accelerate in 2025, especially in the US. Equity Strategist Andrew Heiskell and Macro Strategist Nicolas Wylenzek see five themes that may create opportunity across global equity markets. For example, is the broadening of equity markets likely to continue? Should equity investors go beyond regional diversification? And could 2025 see greater value in small- and mid-cap companies?
The US election results were well received by risk markets, but how long can the euphoria last? Investment Strategy & Solutions Group members Nanette Abuhoff Jacobson, Supriya Menon, and Alex King share their views across asset classes, regions, and sectors. They discuss the case for leaning into strong US fundamentals, favoring global equities over bonds, and staying positive on gold.
What’s next…
Alternative Investment Outlook
Alex King and Adam Berger, members of our Investment Strategy & Solutions Group, share their outlook for the hedge fund landscape. They’ve analyzed more than 30 years of hedge fund industry data and identified common market drivers in previous periods of strong outperformance. Looking ahead, they explain why they believe we have entered another such period today.