To hear directly from the team about the year’s key events and what to watch for in 2025, please watch the video above.
2025 has not been a year for the faint of heart. With markets having been lulled into a false sense of security on the expectation that Trump 2.0 would be, whilst brash, a business/trade friendly president, circumstances have played out … differently.
Fortunately, our expectations for the year, however, were somewhat cautious. Even before Trump’s January 6th inauguration the title of our December Quarterly Market Update “A Bull in a China Shop”, was intentionally ominous. That the titles for the following 3 quarters were (in order) - “Move Fast and Break Things”, “Flood the Zone” and “Shock and Yawn” – reflects our continued trepidation in the face of a new, heightened level of uncertainty and general disruption to post WWII alliances and norms.
Pleasingly, and despite this, financial markets have steadily climbed the proverbial ‘wall of worry’, with most major asset classes having delivered impressively robust returns for the period, and many (particularly equity markets) at or near all-time highs.
In our 2025 Reflections video, the Perpetual Private Investment Research Team consider the year that has been, delving into key investment themes (of course we can’t help but mention Artificial Intelligence), whilst discussing our evolving investment thesis’ and how they extend into the rapidly approaching new year.
Warm holiday wishes to you and your family
As the year draws to a close, we’re grateful for the opportunity to support your financial journey. We thank you for your support and the partnership we’ve enjoyed in serving you to-date and look forward to continuing to help guide you through ever evolving investment markets throughout 2026 and beyond.