Investment Leaders October 2025

As Australia’s energy grid accelerates toward renewables, volatility in the National Electricity Market is reshaping how power is generated, stored, and sold. With coal’s decline reducing both stability and traditional hedging options, “firmed” renewable portfolios are emerging as the solution for investors.

As markets grapple with valuation dispersion, index concentration, and shifting global capital flows, active management is once again proving its worth. With mega-cap techs dominating returns and geopolitical risks reshaping supply chains, selective stock picking has become essential. In this new cycle, discernment—not index weight—is driving opportunity and enduring alpha.

With valuations reset, earnings accelerating, and capital markets more accessible, the listed real estate sector is entering a new phase of growth. From global REITs to specialised assets like data centres and senior housing, investors are rediscovering the appeal of real estate’s stability, income, and diversification.

Australia’s retail sector is stepping back into the spotlight. Consumers, buoyed by falling interest rates and easing mortgage pressures, are spending again. Dining, travel, and experiences are replacing homebound habits, signalling a new phase of post-pandemic confidence. For investors, the message is clear: retail’s long correction is giving way to renewed growth and opportunity.