In the opening months of President Trump’s second term, attention-grabbing trade policy and a dramatic pivot on Ukraine have ratcheted up the level of uncertainty investors are facing. Our lead article considers the ‘collateral improvement’ this has brought to Europe’s outlook for growth.
Investment Insights Q2 2025: Europe's Big Reset
2 April 2025
Article last updated 2 April 2025.
As our latest edition of Investment Insights highlights, it’s easy to overstate the ability of politicians to influence the long-term performance of high quality, highly profitable companies.
Following on from our lead article on Europe’s big reset, we consider what a more uncertain world means for our clients’ portfolios, and how investors can adapt to the increased volatility in markets that this is likely to bring.
In this edition we also look at what tariffs could mean for you in your daily life, as “Tammy and Tabitha Talk Tariffs”.
And speaking of volatility, our next article considers why we wouldn’t consider bitcoin or any other cryptocurrency as appropriate for our clients’ portfolios, even if the regulators allowed it. We see them as more speculative assets than reliable diversifiers.
Finally, in a critical year for corporate governance at UK investment trusts, we take a look at our engagement action in this area.
Liz Savage and Ed Smith
Co-chief investment officers
