Newsletter – October 2025

This issue explains recency bias, a phenomenon whereby investors let short-term performance influence their decisions, and ways to counter this, instead seeing the silver lining in market volatility.

This month we outline President Trump’s revised tariffs and trade deals and what this mean for NZ, and global financial markets.

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

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.

Introducing our new Australian Active manager, DNR Capital, and a taste of their investment philosophy.