Performance review
The third quarter of 2025 was not plain sailing for investors with higher inflation numbers and budget concerns in the UK; higher inflation, revisions to employment data, and a government shutdown in the US; and a resurgence of political turmoil in France, among other things.
Against this backdrop, it was somewhat surprising to have seen a very strong quarter for riskier assets and no significant sell off in bonds. This resulted in a strong return for your portfolio.
