Q1 2025 Investment Review & Outlook

Uncertainty has been a key theme to describe the first quarter of 2025. The radical shift in economic policy from the United States has shaken markets and economies across the globe and has changed the political dynamic between the US and its historical allies. This has resulted in a cocktail of uncertainty and volatility which has weighed heavily on some key markets, particularly in the US. However, this change in policy from the US has in fact galvanised other economic markets, particularly the European Union. With reliance on the US now lessening, Europe has had to turn inwards, and as a result companies and stock market indices on the continent reacted positively through Q1 – up to the tariff announcements on the 2nd April. Despite the current uncertainty, we believe that investors who can stay the course, remain patient, and look at the longer-term picture will be rewarded.