Revisiting certain uncertainty

The first half of 2025 has not been dull. Many people thought that the new Trump presidency would see some fireworks. But few expected the policy uncertainty that we have experienced in that time – and markets certainly didn’t, given the extent of moves we’ve seen in this first few months. Announcements around tariffs caused the market sell-off and then bounce-back. What conclusions can be drawn from this and and how are asset managers positioning themselves for the second half of 2025 and beyond? Read expert analysis from Piers Hillier, Chief Investment Officer, on the economic outlook...