Yes. In our view, developed markets ex US small-cap stocks are well positioned to continue outpacing their larger-cap counterparts due to three key factors: reduced sensitivity to global tariff changes, attractive relative valuations, and improving international economic fundamentals.
Equities advanced as peak tariff uncertainty appeared to wane, fixed income performance diverged among major regions, the US dollar broadly depreciated, and real assets mostly advanced.
Description: In today’s environment, building resilient portfolios is essential. Inflation risks are elevated and macroeconomic uncertainty is high. Allocating capital to hedge macro risks may reduce returns, so investors should carefully consider risk tolerance, objectives, and spending needs when assessing their allocations.
Global equities advanced as lingering uncertainty over US trade policy eased.
US tariffs added to market volatility in the fiscal year ended June 30, 2025. Nevertheless, most risk assets ended the year higher, supported by strong earnings ahead of tariff uncertainty and the prospect of continued central bank policy easing to support growth.
Yes. We believe Latin America will benefit from today’s shifting market dynamics, supporting its outperformance over broader emerging markets stocks.
As the second piece in a three-part series, we examine how AI may support productivity growth and how capital is being deployed to realize its potential.
In this piece, we explore AI’s transformative potential for asset allocation opportunities and risks, as well as key implementation considerations and challenges.
Yes, we believe a combination of attractive valuations, a shifting macro and policy environment, and stretched US profitability will allow non-US equities to continue outperforming.
Global equities surged, closing the quarter at all-time highs.