Investing in a Realpolitik world

• In a Realpolitik world with goldilocks fundamentals, active management is critical.
• Fundamentals are strong and improving in many countries, delivering ‘a great global convergence’.
• Investors could focus on areas where the core drivers of rewards are intact, i.e. where productivity, market power, and profits are present.
• There are six themes that Fullerton assesses to have long structural growth ahead: AI; Re-globalisation 2.0; Winner takes all; Policy shift winners; Med-tech innovation; and Consumer Evolution & Behaviours as well as Asia demographics-related beneficiaries.
• Over the next 12 months, we are bullish on global risk assets, driven by Asia (namely China, Singapore, South Korea, Taiwan) and Developed Markets (i.e. the US, Germany, and Japan) equities, with a positive outlook for fixed income.

Our Q3 2025 investment views in a nutshell: hear from our Head of Investment Strategy