Investment Commentary

In Q1 2025, global equity markets had mixed results, with the S&P 500 falling by 4.3% and the MSCI All Country World Index declining by 1.2%, while the MSCI All Country World ex-U.S. index rose by 5.4%. Political events, including several tariff announcements by President Donald Trump, and economic developments such as the U.S. Federal Reserve's revised growth and inflation forecasts, significantly influenced market performance. To learn more, click on the link for the latest Market Environment.