Investment markets: December 2025

Share market performance was mixed in November—the US market was flat despite volatility during the month and shares in Australia were down 3%. What was behind the performance? In this episode, UniSuper’s Head of Fixed Interest, David Colosimo ,gives us the latest market news, as well as key things we’re watching out for over the coming month. Thank you for tuning into our podcasts over the year. This is our last investment market podcast for 2025—we’ll be back in February 2026. We wish you a safe and happy holiday season! SHOW NOTES Release date: 1 December 2025. The information in this podcast is current as at the release date but may change in the future. Your hosts are Lyndon Horsburgh and David Colosimo. Produced by Lyndon Horsburgh. Transcript available at unisuper.com.au/podcasts. For more info about investments at UniSuper, visit unisuper.com.au/investments. Watch Chief Investment Officer John Pearce’s latest investment update on our website (unisuper.com.au/investments) or our YouTube channel (youtube.com/@unisupernews) and subscribe so you don’t miss future updates. Have some feedback? Email us at [email protected]. The information discussed in this podcast is of a general nature and may include general advice. It doesn’t take into account your personal financial situation, needs or objectives. Before making any decision in relation to your UniSuper membership, you should consider your circumstances, the PDS and TMD relevant to you, and whether to consult a qualified financial adviser. For a copy of the PDS and TMD, call us on 1800 331 685 or go to unisuper.com.au/pds. Comments on the companies we invest in aren’t intended as a recommendation of those companies for inclusion in personal portfolios. Certain information contained in this podcast may include forward-looking statements, and we do not guarantee that these statements will eventuate. UniSuper has no obligation to provide updates or changes to the information in this podcast. Past performance is not an indicator of future performance. Our portfolios have been designed to suit us, and may not be appropriate for others. Prepared by UniSuper Management Pty Ltd (ABN 91 006 961 799 AFSL No. 235907) on behalf of UniSuper Limited (ABN 54 006 027 121 AFSL No. 492806) the trustee of the UniSuper fund (ABN 91 385 943 850). Visit us at www.unisuper.com.au. Learn more about super with us at www.unisuper.com.au/super.