Newsletter – June 2025

This month we showcase NVIDIA, which has returned over 300% since it was added to our Californian global equity manager, Fisher’s portfolio, in July 2021.

This issue covers what the results of the NZ general election and the conflict in the Middle East mean for investors.

This month’s theme is the benefits of active management. Active management allows us to manage specific risks, adjust to market conditions, and uncover hidden investment opportunities. Dutch company ASML has been an exciting recent success story.

Despite concerns over Middle East conflict, rising oil prices, and inflation, global share markets posted solid gains, highlighting that markets are often driven by factors beyond the headlines.

This month we unpack what a tariff is, and some of the ways we manage portfolios during uncertain times like this.

This month our theme this month is time in the market vs timing the market. Avoiding the perils of emotionally driven investment decisions, which can often lead to missed opportunities and lower overall returns.