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Global Equity Growth Fund | Q4 2025 20 January 2026 Kathy Davey

Global markets rose by 3.3% in the final quarter of the year. This was despite the longest US government shutdown in history and a softer US job market. The slowing labour market prompted the Federal Reserve to prioritise employment over inflation, cutting interest rates a further 25bps in December.

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2025 Market Overview-the year that was 09 January 2026 Ashburton Investments

“Uncertainty” was among the top contenders for the word of the year in financial market circles in 2025, reflecting just how often the term was used in reference to the global economic environment and financial markets.