By Michael Zacharia, Investment Analyst

Review of 2024

2024 surprised on the upside, with economic growth, corporate earnings and equity market returns all outperforming early year expectations. 

Donald’s Trump’s victory in the US presidential election helped US markets to finish 2024 strongly but concerns over trade tariffs meant that many other global equity markets ended the year with equity market declines.   UK Government Bond markets fell following a rise in inflation and combined with concerns over the UK Budget ended the year with a negative return. 

As we enter 2025, market consensus is for US economic growth to continue strongly and drive global growth whilst markets outside the US are expected to be troubled by weaker growth, geopolitical instability and US trade tariffs uncertainty.

Overall, 2024 presented us with opportunities and we remain confident that our approach to investment and diversification allow us to benefit from further opportunities and the various market shifts that will undoubtedly continue throughout 2025.  

Key will be to keep a watchful eye on geopolitical risks, ready to adjust if needs must.  We remain optimistic for the long term and continue to believe it is important to remain invested and globally diversified.