UBS – Global Investment Returns Yearbook 2025

The main theme of the report is the analysis of 125 years of investment returns history to forecast future trends. Key findings include significant market changes over the past 125 years, the superiority of equities in terms of returns, moderate real returns on government bonds, the importance of patience and asset diversification to manage volatility, considering inflation as a crucial factor in long-term returns, the role of gold and commodities in hedging inflation, and the long-term superiority of certain investment factors, although some styles have disappointed over the years.