AI Momentum and Emerging Market Rotation Define Global Equity Outlook

Robeco’s Fundamental Equity Quarterly (Oct 2025) offers a global perspective from developed and emerging market specialists.

• In developed markets, AI-led capex drives earnings growth, with the U.S. showing resilience despite tariff and labor risks; valuations remain stretched but supported by record free cash flow.

• Emerging markets gained 25% YTD, led by Korea and Vietnam, as investors shift from developed markets amid improving fundamentals and a weaker dollar.

• Sustainability trends evolve amid U.S. policy shifts, with governance and AI oversight dominating the 2025 proxy voting season.

How can investors balance AI-driven optimism with geopolitical and macro headwinds? Explore the full quarterly for detailed insights.