Most major asset classes rose in Q2 2025, except REITs and Commodities. Non-US stocks led the way, followed by US equities. A key takeaway: a well-diversified portfolio remains critical for preserving and growing wealth over the long term.
That said, Q2 was volatile, driven by events like the tariff war. As one prominent global strategist noted, “We’ve seen every flavor of risk this year: tariffs, war, recession fears, U.S. debt downgrade, AI competition…” These risks led many investors to ask, “Is it different this time?” Yet, by quarter’s end, markets delivered solid returns, showing once again that investors find ways to navigate uncertainty.
Looking ahead, I expect more headline risks: trade tensions, conflicts in the Middle East and Ukraine, and ongoing geopolitical uncertainty.
So… how are we dealing with these markets for our clients?
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