Market outlook: equities
Underweight in the short term, optimistic for 2025
Our equity market outlook remains constructive for 2025 as a whole: Last year, too, saw a plethora of (geo)political crises, conflicts, and disruptions caused by threats from the new US administration. And that is likely to continue in 2025 – for example, with the escalating tariff dispute right at the start of the year. However, 2024 also clearly showed that the equity market is not lastingly affected by such issues as long as the fundamental trends are favourable. And they should continue to be so in 2025: with further interest rate cuts, a growing economy in all major economies, and, above all, rising corporate profits.
However, interim corrections are likely to be unavoidable even if the annual performance is positive. And in our view, the beginning of the new US administration's term of office is likely to present a window of increased uncertainty for the capital market (e.g. with regard to a new tariff policy), during which the politically influenced framework conditions will first become clear and the capital market will have to adapt to them. The scope for US interest rate cuts is also smaller due to the ‘Trumponomics’ policy. In the context of short-term tactical asset allocation, we therefore currently favour those factors that initially speak in favour of an overweighting of euro government bonds over global equities.
You can find more information on current market developments here!
As of February 2025
What influence crises have on the equity markets?
Are equity investments still worthwhile? Crises have always had a direct influence on the equity markets. The video shows the crises over the past 50 years (using the global equity index MSCI World for example). As you can see, the equity market also rise again after crises. The quintessence: As an investor, you need staying power (i.e. a long-term investment horizon) and the necessary willingness to take risks when investing in equities.
Invest in equities – for example with equity funds!
Equities offer a good opportunity to build up long-term assets, diversify the portfolio and benefit from the development of various companies and sectors. This can be done easily and conveniently with the equity funds from Raiffeisen Capital Management. You also benefit from the know-how of our investment specialists. Find out more about our range of equity funds.
Equity funds
Raiffeisen Capital Management has more than 30 years of experience in managing equities. Choose from our wide range of equity funds.
Build wealth over the long term with high dividend equities
Surprisingly few investors are aware that dividends make up a very significant share of the total long-term return of equity investments, especially if they are regularly reinvested. Depending on the market and period, the figure has been between 30% and 50% in the past, and even as high as 70% in some decades!
Transitioning into the future: Raiffeisen-SmartEnergy-ESG-Aktien
At first glance, the energy segment hardly seems like a good fit for a sustainable investment. But “clean” energy is a bona fide future topic that not only offers a wide range of growth opportunities but also allows for ESG investments.
A golden age for health care stocks?
Health care stocks are considered to be defensive investments, being less influenced by economic cycles. But anyone who thinks that this is boring or involves lower earnings opportunities is flat-out wrong. The fund Raiffeisen-Health and Wellbeing-ESG-Aktien has allowed investors to tap into the earnings potential of the health care sector for many years – in a sustainable manner!
Invest in equity ETFs with Index-Selection-Equity
There are various instruments available for investing in the capital market. When it comes to investment funds, a distinction is often made between ETFs, which are passive funds that are traded on equity exchanges, and actively managed funds. These are two investment styles that can each make sense to use in different situations, depending on the investment objectives and customer needs.
How is Raiffeisen-MegaTrends-ESG-Aktien performing?
Along with the equity markets in general, Raiffeisen-MegaTrends-ESG-Aktien can look back at several volatile years. After a very difficult time in 2022, this globally investing equity fund has bounced back strongly, especially over the past six months. How does the current situation look, and what is the outlook for the years to come?
Megatrend Artificial Intelligence
ChatGPT is currently a hot topic of discussion. This software is seen as a milestone in artificial intelligence (AI). What long belonged to the realm of science fiction is now becoming reality. ChatGPT writes and analyses texts, poems, jokes, role playing games, and even programming code. And it is constantly learning in the process.
Invest in US equities
Rising bond yields, uncertainties about the new Trump administration and in some cases very high valuations are creating headwinds, but parts of the US equity market still appear promising.
Sustainable, digital, and active investment in infrastructure equities
Equities in the infrastructure segment cover virtually the entire spectrum for investors: from promising, but unprofitable start-ups to innovative technology companies experiencing explosive growth to supposedly boring, but highly profitable firms.
According to its investment strategy, the Index-Selection-Equity mainly invests in other investment funds.
The funds Raiffeisen-Nachhaltigkeit-Aktien, Raiffeisen-HighTech-ESG-Aktien, Raiffeisen-SmartEnergy-ESG-Aktien, Raiffeisen-Health-and-Wellbeing-ESG-Aktien, Index-Selection-Equity, Raiffeisen-MegaTrends-ESG-Aktien and Raiffeisen-Zentraleuropa-ESG-Aktien exhibit elevated volatility, meaning that unit prices can move significantly higher or lower in short periods of time, and it is not possible to rule out loss of capital.
The following assessments of capital market prospects are a snapshot and may change at any time without notice or update. They represent a basic orientation framework and do not represent a generally binding view for fund and portfolio management. They also represent neither a binding forecast nor a recommendation for action for investors. The assessments of individual teams or fund managers may deviate significantly from this under certain circumstances. Similarly, the positioning of the investment funds, asset management products and portfolios may differ significantly from the market outlook mentioned on this page, for example due to different investment horizons, strategies and models used or discretionary decisions made by individual fund managers.