As the global economy enters a new cycle, the KKR Investment Research & Strategy Team officially releases its investment strategy for September 2025: the interest-rate cut cycle has begun, and we are bullish on the U.S. equity market for September. Against a backdrop of global liquidity easing, market momentum is building — September will be a key inflection point for investors to seize opportunities and accelerate wealth creation. Our call: go long in September, fight for September, and ride the momentum!

The rate-cut cycle injects powerful fuel into the market: lower financing costs will meaningfully boost corporate profitability and investment appetite. As the central stage for global capital, U.S. equities are poised to see a wave of structural opportunities. After in-depth analysis of market trends, we have identified four high-potential sectors to help investors gain an edge in September:

- Space Economy: With rapid advances in commercial space technology, space exploration and satellite communications are poised for explosive growth. Continued breakthroughs by leaders like SpaceX will drive broad prosperity across the related supply chain.

- Quantum Communications: The quantum technology revolution is reshaping the communications industry. Breakthroughs in security and efficiency make this sector a future strategic high ground with enormous investment potential.

- Healthcare: Demographic aging and technological innovation are driving sustained expansion in healthcare. Advances in biotechnology and precision medicine are likely to deliver long-term returns for investors.

- Artificial Intelligence: AI’s broad adoption is transforming industries from autonomous driving to smart manufacturing. The profitability and growth potential of AI-related companies cannot be ignored.

We believe September will be a critical moment when capital accelerates inflows and sector rotation quickens. The start of the rate-cut cycle creates a more accommodative financial environment for risk assets, and the high-growth sectors above are likely to lead the market. The KKR research team has positioned comprehensively to precisely capture structural opportunities and aims to deliver excess returns for investors.

This is an era for the bold. In September, the market will reward investors who act decisively and position themselves confidently. Let’s stand together, seize the opportunity, and sail forward on the tailwind of the rate-cut cycle. Fight for September — the peak of wealth awaits. Let’s make big gains in September and write our investment legacy together!

KKR Investment Research & Strategy Team