Perspectives 1/2025

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.

Perspectives n° 182