According to the Investment Management Association of Singapore (IMAS) 2025 Investment Managers’ Outlook Survey, with further margin erosions, flows to passive investments and changing investors’ preferences, our members foresee a rise in geopolitical conflicts, projecting a significant impact on the global economy and financial markets. Concerns for sticky inflation have diminished with expectation for Central Banks to achieve “soft landing”, with a majority consensus for up to a 0.75 percentage point reduction in the Fed Funds Rate. Views were divergent on expectations of Asian markets for 2025 but there is a consensus in the longer term that markets will remain stable or strengthen, with projected increases in key indices. Alternative investments are expected to be drivers for growth and fund managers’ differentiation strategies focuses on incorporating new asset classes and targeting new client sectors. Data and the lack of standardisation continue to be impediments to implementing ESG policies. Demand for high end technology continues unabated.