15 Jan 2026
2025 – From anxiety to what’s not to like
December is traditionally a strong month for equity investors, but it felt particularly uninteresting as 2025 came to a close. Maybe it’s because we have become accustomed to a new level of heightened stress, and when markets act normal, it’s hard for us to take a breather and say, “nothing exciting happened this month.”
However, when we look at the year overall, it was quite a year, chock full of trials and tribulations occurring at a level bordering on chaos. Many investors began the year from a place of anxiety; we started with artificial intelligence leadership coming out of 2024, which left investors concerned about market valuations and concentration. There was new leadership in Washington and all that that entailed; there were lingering concerns about inflation, then came tariffs, global conflicts, etc. It was certainly a busy year for the media.
Beyond the noise and erratic ripples of information, the capital markets did sort themselves out. From this point of relative calm, looking backwards, it appears that general slow-moving tides of change made sense.
Stocks in the U.S. produced a solid year of performance driven by earnings, international stocks knocked the cover off the ball due to valuations, and interest rates remained stable as inflation crept slightly lower. All in all, a great year for investors and particularly for Frontier investors.
In this month’s briefing, we will cover current themes, performance highlights, capital markets, portfolio positioning, headlines, and our fund story of the year.
Read more in the January Monthly Briefing.
Past performance is no guarantee of future returns. An investment in this strategy involves the risk of loss, including principal, as well as the potential for gain. There can be no assurance that any Frontier strategy will achieve its objectives or avoid substantial losses. Before investing consider the investment objectives, fees and expenses. Please see additional disclosures in the “Important Disclosure Information”. Performance shown represents total returns that include income, realized and unrealized gains and losses. The Frontier performance shown above are composites of accounts actually managed by Frontier and are shown gross of an advisory fee, which includes the Frontier and financial advisor investment advisory fees, and net of a max 3% advisory fee. Performance in the Balanced, Moderate Growth and Long-Term Growth strategies includes predecessor performance. Benchmarks shown are Frontier’s custom benchmarks. Benchmark composition can be viewed here:https://frontierasset.com/frontier-benchmark-composition-asset-class-detail/
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