• Global Leaders Equity Fund | Q1 2025

    Ashburton Investments

    A particularly volatile March rounded out a bumpy 1Q25 for global equity markets, with the MSCI World Net Index returning -4.5% in US dollars (USD) in the month and -1.8% in the quarter (local currency returns of -5% in March and -2.7% in Q1).

  • Multi-Asset Funds: January to March 2025

    Jarred Sullivan

    This year has certainly been characterised by immense uncertainty in global markets. Global equities declined over the quarter, with the MSCI All Country World Index falling 1.2% and the S&P 500 declining by 4.3%. The primary reason for the downturn can be ascribed to a valuation multiple de-rating in the United States (US), driven by a confidence shock among global investors.

  • Global Leaders Equity Fund: Q4 2024

    Ashburton Investments

    Global equity markets finished 2024 relatively subdued, with the MSCI World Index returning -0.2% in U.S. dollars (USD) and +1.9% in local currency in Q4. Notwithstanding the mild Q4 returns, the index had another remarkable year, delivering +19% in USD and +21% in local currency; a cumulative two-year gain of nearly +50% in USD. U.S. election sentiment drove performance in Q4, with the highly cyclical, growth-tilted sectors leading.

  • Global Equity Growth Fund: Q4 2024

    Kathy Davey

    The biggest news for the final quarter of 2024 was Donald Trump winning the US election. Global markets largely tracked sideways over the quarter, however, the election of President Trump was received positively by the US stock market and the S&P 500 gained 2.4% over the period.

  • Global Equity Income Portfolio: September 2024

    Kathy Davey

    In September we saw a much-anticipated cut in the US Federal Funds rate of 50bps with Federal Reserve Committee minutes mentioning confidence that inflation is moving sustainably towards the 2% target. Outside of the US, China announced a slew of prospective stimulus measures to revitalise their economy.

  • Global Equity Growth Portfolio: September 2024

    Kathy Davey

    In September there was a much-anticipated cut in the US Federal Funds rate of 50bps with Federal Reserve Committee minutes mentioning confidence that inflation is moving sustainably towards the 2% target. Outside of the US, China announced a slew of prospective stimulus measures to revitalise their economy.

  • Global Equity Growth Fund: September 2024

    Kathy Davey

    In September there was a much-anticipated cut in the US Federal Funds rate of 50bps with Federal Reserve Committee minutes mentioning confidence that inflation is moving sustainably towards the 2% target. Outside of the US, China announced a slew of prospective stimulus measures to revitalise their economy.

  • Global Leaders Equity Portfolio: September 2024

    Kathy Davey

    In September we saw a much-anticipated cut in the US Federal Funds rate of 50bps with Federal Reserve Committee minutes mentioning confidence that inflation is moving sustainably towards the 2% target. Outside of the US, China announced a slew of prospective stimulus measures to revitalise their economy.

  • Global Leaders Equity Fund: September 2024

    Kathy Davey

    In September we saw a much-anticipated cut in the US Federal Funds rate of 50bps with Federal Reserve Committee minutes mentioning confidence that inflation is moving sustainably towards the 2% target. Outside of the US, China announced a slew of prospective stimulus measures to revitalise their economy.

  • Multi-Asset Funds: September 2024

    Jarred Sullivan

    During September, volatility was particularly prevalent at the beginning of the month - in line with During September, volatility was particularly prevalent at the beginning of the month - in line with historical seasonality. historical seasonality.