📆 January & December Update
With 2025 a month behind us already with a strong finish for our portfolio, ending up 24.35% for the year, we have stayed true to the long-term strategy and maintained a diversified portfolio across regions and sectors.
January has been a little touch ending with -1.13%. It's not anything I'm concerned about and we'll have green and red months.
Looking at the broader macro backdrop as we head into 2026, the global outlook feels balanced with both opportunities and risks. In the US, the Federal Reserve has opted to hold interest rates steady in its first meeting of the year while still watching inflation dynamics closely. They do see 'somewhat elevated' inflation. We still have a lot of political uncertainty in the region with lots of potential for sharp shifts as out of the blue announcements are made whether it be on tariffs or other things. I wont discuss the Gold and Silver drop as we are not invested here but what a ride it has had!
In the UK, data from the end of last year opened the door for the Bank of England to cut rates in December, providing some relief to borrowers and domestic markets and supporting sentiment in London stocks. The BoE sounded positive saying 'we still think that interest rates are on a gradual downward path', and from a portfolio perspective the UK is certainly going to have more exposure in our portfolio in 2026.
The current backdrop is a bit mixed, and markets are still figuring out which way things might lean - will we see an AI bubble pop or not?!?! On one hand, there’s optimism around steady earnings and the resilience we've seen from companies so far. On the other, there are still a few concerns bubbling under the surface, like sticky inflation and ongoing geopolitical tensions that could keep things bumpy.
Looking ahead, one of my priorities over the coming months will be trimming some of the larger tech positions where gains feel extended, and reallocating capital into non‑US assets to further diversify our geographical exposure. This doesn’t mean a bearish shift, its a pure balancing act and to make sure we sensibly manage risk. ... Show More
Not investment advice. The author may have financial interests in the mentioned instruments.
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Thu Jun 11 2026 23:12:58 GMT+0000 (Coordinated Universal Time)
