Multi-Asset Manager Dashboard – Q3 2025
Aggregated views from leading multi-asset managers, April–July 2025
Divergent views: some managers remain overweight U.S. stocks, others trim exposure.
3 positive, 3 negative, 4 neutral
PineBridge, PGIM, Invesco and Berenberg positive on Europe and EM markets.
4 positive, 6 neutral views
Strong consensus favoring high-quality Treasuries, Canadian and eurozone bonds.
8 of 10 managers positive
Positive sentiment from PineBridge and PGIM; neutral from others.
2 positive, 8 neutral
Berenberg and BNY overweight gold; others maintain neutral positions.
2 positive, 8 neutral
Allianz GI likes EM hard-currency bonds; limited coverage overall.
1 positive, 9 neutral
Caution from PineBridge and Berenberg; Invesco overweight bank loans.
1 positive, 2 negative, 7 neutral
Positive views from Berenberg on industrial metals; commodity exposure from Invesco.
2 positive, 8 neutral
Invesco overweight REITs; J.P. Morgan suggests real assets as inflation hedges.
2 positive, 8 neutral
USD mostly negative outlook; EUR/JPY favored by Invesco and Berenberg.
Mixed outlook across currencies
Click on a manager to expand their detailed asset class positions
Latest headlines by asset class with sentiment analysis
U.S. Equities
AI Stocks Drive S&P 500 to New Highs
Technology sector leads market gains as AI productivity gains accelerate across industries.
Fed Policy Uncertainty Weighs on Market Sentiment
Investors remain cautious ahead of next policy meeting amid mixed economic signals.
International Equities
European Industrials See Strong Q3 Earnings
Defense and industrial stocks outperform as geopolitical tensions support sector demand.
Asia Ex-China Markets Benefit from Diversification
ASEAN markets attract flows as investors seek alternatives to China exposure.
Government Bonds
Treasury Yields Stabilize on Quality Demand
Flight to quality supports government bond markets amid global uncertainty.
Credit
Credit Spreads Widen on Economic Concerns
Corporate credit faces pressure as managers turn cautious on spread compression.
Commodities
Gold Hits Multi-Month Highs on Safe Haven Demand
Precious metals rally as investors seek inflation hedges and portfolio diversification.
Industrial Metals Benefit from Infrastructure Spending
Copper and aluminum prices rise on renewed infrastructure investment globally.
Currencies
Dollar Weakens on Fed Policy Expectations
USD index declines as markets price in more dovish monetary policy stance.