2025 good year for Portuguese funds and shares

Almost all of Portugal’s investment funds succeeded in making positive returns in 2025 while stocks on the financial markets also enjoyed a strong performance.

It was a good year for shares trading on Euronext Lisbon which also was reflected in investment funds in Portugal.

Portuguese and Spanish shares led gains of up top 40% in 2025.

Among the 10 investment funds with the best returns, eight traded Portuguese shares according to data from the Portuguese Association of Investment Funds, Pensions and Patrimony (APFIPP).

The leader was Caixa Ações Portugal Espanha with a fund with 36 securities/shares and a 99% exposure to the shares market.

The best positions on December 31 were the Banco Santander (10%), Inditex (10%), Banco Sabadell (9%), EDP, CaixaBank, Bankinter (5% of the portfolio each), Iberdrola, Endesa, International Air and Mapfre.

“In December, the Iberian share market enjoyed a very positive performance with the Spanish stock market index hitting new records” driven by positive economic signs according to the APFIPP.

The fund gained 4.95% due to the positive performance of shares in the financial sector, cyclical consumer companies (clothing), and utilities.

In 2025, the fund accumulated a valuation of 41.4% being the Portuguese fund with the greatest profitability.

Spain’s stock exchange index Ibex 35 closed the year above 17,000 points, enjoying the best annual performance since 1993 and gaining 49.27% in value.

As for Euronext Lisbon’s PSI index, the total value of its securities and shares rose 29.58% to 8,263.65 points, a number that was last exceeded 16 years ago by the 33.5% seen in 2009.

The fund IMGA Ações Portugal closed 2025 with an annualized profitability of 32.7% while Sixty Degrees Ações Portugal was up 32.6% and GNB Portugal Ações was up 31.65%.

In the case of the first fund, 30% of the portfolio was invested in Galp, BCP and in Jerónimo Martins.

The second specialised in shares from Iberdrola, NOS, Sonae, as well as Galp and BCP.

As for the third fund, it also invests in the Sonae, Mota-Engil and EDP Renováveis.

Montepio Gestão de Ativos has two funds in the top 10 which have benefitted from the same sectors highlighted by Caixa Gestão de Ativos.

“The European share markets rounded off December with record highs, closing 2025 with the biggest annual valuation since 2021 with the financial sector not only following this performance but also was one of the main contributors for the market gains”, states Montepio Euro Financial Services.

SOURCE: Negócios