2025 Mid-Year Update
Entering the year, the theme of our 2025 Investment Outlook was “Navigating Policy Change Amidst Fully Valued Markets.” In the six months since, there has been no shortage of seismic changes in policy from the incoming administration, particularly around trade agreements, budgetary considerations, and executive fiats. The resultant volatility in financial markets and the impact on asset prices and client portfolios was certainly anticipated in this space and has, by and large, been successfully navigated through prudent portfolio management. In this commentary, we will soberly address the central geopolitical and legislative concerns that influence markets, command our attention, and keep us up at night in the hope that our clients can rest more easily.