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Global Equity Growth Fund: Q2 2025 31 July 2025 Kathy Davey

The second quarter of 2025 was strong for global markets. Starting off on a negative note with the announcement of President Trump’s ‘Liberation Day’ tariffs, global markets turned around strongly in mid-April boosted by tariff pull-backs, a de-escalation in trade tensions between the US and China and the passing of the ‘One Big Beautiful Bill’.

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Multi-Asset Funds: April to June 2025 09 July 2025 Jarred Sullivan

Global equities rebounded over the quarter, with the MSCI All Country World Index surging 11.7%. However, geopolitical uncertainty remained a central concern for market participants.

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