Navigating an uncertain environment: Applying a disciplined, data-driven approach

Despite the ongoing conflict in the Middle East, equity markets have staged a remarkable recovery. The bulk of major indices have fully erased their March losses and broken through to new all-time highs, suggesting markets are pricing in a negotiated resolution to the geopolitical situation. Rolling 12-month returns are exceptional across the board — Asia Pacific equities are up approximately 50%, US small caps similarly so, and infrastructure has gained around 20%. The value trade across UK, European, and Asian markets has been a key driver, continuing the broadening of returns beyon...