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Perspectives 1/2025

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Twice a year, our fund managers analyse trends in the global economy and financial markets. Read the Perspectives issue for the first half of 2025.

  • On the financial markets, the obsession with relative performance has taken on worrying proportions.
  • Today's major stock market indices are often driven by a limited number of stocks.
  • Many indices are close to their highs, while many stocks are not. This clearly argues in favour of active management.