September insights: From interest rates to renewables

Published on 23 September 2025

From interest rates to clean energy and healthcare, we’re seeing several positive developments this quarter that impact investments are well positioned to benefit from. Let’s take a closer look:

TL;DR

Interest rates are coming down in Europe and in the US, giving a boost to sectors like clean energy, healthcare, and smaller innovative companies.
Technology remains in focus as trade discussions continue, yet firms in areas like semiconductors and AI are still proving resilient.
Clean energy, healthcare, and sustainable consumer sectors are showing steady growth, supported by policy, funding, and consumer demand.
Looking ahead, lower interest rates and renewed momentum in sustainability point to a promising fourth quarter.

Lower interest rates fuel innovation 🔬

One of the most promising developments this quarter has been falling interest rates. The European Central Bank has already cut rates four times this year, and the US has begun to do so as well.

Why is this positive? Lower rates make it easier for companies to invest in new projects. That especially helps sectors like clean energy and healthcare, where upfront investment is high. Smaller, innovative companies also benefit from lower borrowing costs, since they rely more on external financing than large corporations. Lower borrowing costs mean they can raise capital more affordably and reduce financial pressure. This, in turn, helps them accelerate their growth.

Technology adapts and advances 🤖

Another key theme shaping markets this quarter, alongside rates, is technology. Trade tensions between the US and China keep supply chains in the spotlight. For example, China’s Cyberspace Administration recently instructed leading Chinese tech firms to stop using Nvidia chips, while the U.S. continues to restrict the sale of advanced semiconductors to China.

Yet what really stands out is how robust and flexible many innovative companies have proven to be. From semiconductors to AI, growth continues. For instance, automotive suppliers of critical components to electric vehicles have posted strong results this quarter, with consumer demand proving more stable than expected. For investors, this shows that even under trade tensions, innovative companies can continue to deliver results.

The energy transition gathers new strength 💪

This progress is also visible across other sectors. After a slow start to the year, Europe’s heat pump market is picking up again, especially in Germany and the Nordics. By now, heat pump sales in Germany have surpassed gas boilers for the first time in history. Energy storage is also expanding, with Europe on track for about 30 GWh of new capacity in 2025, up roughly 36% from last year. These consistent shifts are reshaping the economy.

Clean energy companies are planning expansions and showing long-term confidence. The direction is clear: the shift to renewables is moving ahead more strongly again – a development investors had been waiting for and one that points to opportunities in renewable energy.

Healthcare innovation continues to thrive 🧬

Healthcare is another area showing steady strength. While at the beginning of the year, with the change in administration, there were worries about major cuts to the U.S. health budget, in the end, the National Institutes of Health (NIH) budget for 2025 was set at a steady USD 47 billion.

This gives biotech and medical companies more room to develop new treatments and technologies – a trend also visible in recent company results. Several large pharmaceutical companies that provide essential medicines at affordable prices have reported solid earnings. They also pointed to positive prospects for the year ahead.

From new therapies to vision care, demand keeps rising – making healthcare a strong opportunity for investors and keeping these innovations relevant for investment portfolios.

Looking ahead – and a glimpse of what’s next 👀

All these developments point in one direction: innovation, sustainability, and resilience are gaining ground again. By being invested in these sectors as they evolve, you can be part of their growth story.

Our investment team continues to monitor developments carefully. With low interest rates and sustainability gathering renewed momentum, the outlook for the fourth quarter is promising.

Reach out for support

If you have any questions about your portfolio, our Customer Success team is happy to help you. You can email us at [email protected] or call 044 271 50 00.

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