With dust settling a little after the sell-off over the last couple of days, I thought investors would be interested to see how Courtiers Multi-Asset funds have fared so far in 2025.
Below are the returns from 31st December 2024 up to the close of markets last night, 3rd April 2025, against major equity indices.
(All figures are total returns and include income)
Prices will have been retreating throughout the day and that will reflect in Monday’s values, but so far, we’ve avoided the worst of the Trump tariff storm, which has hammered US large tech and growth companies.
In this morning’s article I said that Donald Trump may be remembered not as the “MAGA” president but as the man that inspired “MEGA” (Make Europe Great Again). With Putin waging war on its Eastern flanks and the US bullying from the West, Europe seems to be awakening from its slumber and finding things that its nation states can agree on. Polish Prime Minister, Donald Tusk, put the situation in context when he said “This is a paradox, listen to how it sounds: 500 million Europeans are asking 300 million Americans to protect them from 140 million Russians. If you can do the math, then count on yourself.”
In a recent Bloomberg Odd Lots podcast, ex-Financial Times journalist and entrepreneur Nick Denton mentioned that Chinese people joke about Donald Trump being a great builder of nations, other than America. In fairness to the US president, his tariff intervention and threat of taking away the blanket US military protection of Europe’s Russian borders has forced Germany to boost its defence and fiscal spending, a feat that has been beyond the European Union and European Central Bank for decades. Every cloud…!