Global Shares fund performance in 2025

Index overview

• The Fidelity Global Shares fund tracks the MSCI World Index – which follows the performance of large- and mid-cap stocks across 23 developed markets and is widely used as a benchmark for global developed-market equities.

 

Stock price trend and valuation

• The index delivered positive returns in 2025, broadly in line with developed-market equity performance.
• Gains were strongest during periods of technology-led market strength, with more muted returns during late-year volatility.

 

Key drivers of performance

• Large US companies made up the majority of returns, reflecting their significant weight in the index.
• Technology, healthcare, and consumer sectors were key contributors.
• Stable earnings and supportive monetary policy expectations underpinned performance.

 

Periods of volatility

• Market swings occurred in response to inflation data, interest rate expectations, and geopolitical events.
• Despite short-term fluctuations, the longer-term trend remained positive.

 

Summary

The MSCI World Index provided solid developed-market exposure in 2025, with returns driven largely by US equities. It remained a reliable broad-market benchmark, though performance was influenced by its heavy weighting toward American technology stocks.