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Market Outlook - November2025

Business as usual in the United States Trump’s tariff rollercoaster is racing on, the government shutdown has meanwhile become the longest shutdown in U.S. history and the hype around Artificial Intelligence (AI) continues to push stock prices higher...

Employees walking to work in the city at sunrise

CIO View Outlook Q2 2025

How to interpret recent market moves? Is the shift towards European equities a new trend? DWS CIO Vincenzo Vedda explains what is driving recent developments.

6:35 min.

DWS Concept Kaldemorgen

Well mixed - with decades of investment experience

DWS Concept Kaldemorgen - Pinsel und Farben

Market Outlook - November2025

Business as usual in the United States Trump’s tariff rollercoaster is racing on, the government shutdown has meanwhile become the longest shutdown in U.S. history and the hype around Artificial Intelligence (AI) continues to push stock prices higher...

Employees walking to work in the city at sunrise

CIO View Outlook Q2 2025

How to interpret recent market moves? Is the shift towards European equities a new trend? DWS CIO Vincenzo Vedda explains what is driving recent developments.

6:35 min.

DWS Concept Kaldemorgen

Well mixed - with decades of investment experience

DWS Concept Kaldemorgen - Pinsel und Farben

Focus fund

DWS Concept Kaldemorgen LC

DWS Concept Kaldemorgen* is a multi-asset fund without a benchmark with a moderate risk profile (five-year rolling volatility approx. 4%–8%; no guarantee). The objective is to optimize the yield per risk unit by investing in equities, bonds, currency, gold and other suitable assets. Team-based risk management is an integral part of the investment process. Derivates are used for hedging/investment purposes. The Fund is actively managed. // *Managed based on the strategy developed by Klaus Kaldemorgen, which is described in further detail in the sales prospectus.

Category / Investor profile: Total Return Strategies / Growth-oriented

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Investment topics

DWS offers wholesale investors a diverse range of strategies and solutions across the alternatives spectrum.

Those who broadly diversify their equity investments internationally have the best prospects for good results in the long term. Which trends move the markets, where the chances are best and which markets should be avoided.

Markets

Market Outlook - November2025

Business as usual in the United States Trump’s tariff rollercoaster is racing on, the government shutdown has meanwhile become the longest shutdown in U.S. history and the hype around Artificial Intelligence (AI) continues to push stock prices higher...

2026 Outlook: Navigating Investor Opportunities and Risks

Solid growth, stable markets, and attractive opportunities for investors – US equities remain appealing. However, broad diversification across regions and asset classes is recommended to minimize risks.

About us

EUR

1,054 bn

EUR in diversified AUM (as of 09/30/25)

More than

60 Years

of Investment Experience

Approximately

4,900

employees worldwide