Outlook 2025

The divergence dividend

A landmark US election, new stimulus in China, and growing geopolitical tensions means the second half of the 2020s will be markedly different from what we've seen so far. Growth, inflation, and interest rates in the world's economies are set to head in very different directions over the next 12 months. Profound changes are underway across a range of countries, asset classes, and sectors. Investors will need a different playbook.

Our 2025 Annual Outlook examines the different macro scenarios that could play out in 2025 and provides an insight into how we are looking to position across the world's major asset classes as we head into a new year.

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Overview

Outlook 2025: All change

Outlook 2025: All change

The year ahead promises environment for financial investors, but it is clear earnings in many areas will improve and the global mood is positive.

Macro: US poised to reflate

Macro: US poised to reflate

A material shift in politics makes relation of the US economy our base case for 2025.

Asset class views

Your free guide to Active ETFs

Outlook 2025

Download our guide to the year ahead for the global economy and major public and private market asset classes.

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Focus funds

Fidelity India Active ETF
Asian equities - Active ETFs

Fidelity India Active ETF

Active quality Indian equities
ASX:FIIN
Fidelity Global Future Leaders Active ETF
Global equities - Active ETFs

Fidelity Global Future Leaders Active ETF

Active global mid to small cap equities
ASX:FCAP
Fidelity Australian High Conviction Active ETF
Australian equities - Active ETFs

Fidelity Australian High Conviction Active ETF

Active concentrated all cap equities
ASX:FHCO

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