We’re now halfway through 2025 and it’s fair to say this year has brought with it high levels of uncertainty. Internationally, much of this stems from the US administration – especially President Trump’s Liberation Day speech, which imposed tariffs on nearly all the US trading partners, sparking market volatility.

Despite the subsequent 90-day pause to allow for further negotiations, uncertainty remains, and market sentiment has yet to stabilise.

Closer to home, the State of the Nation address was followed by a Budget Speech which was then postponed, leaving key fiscal decisions unresolved. The budget was rescheduled for 12 March, but political tensions persisted eventually one was delivered on 21 May, and the contentious 0.5 percent VAT increase was withdrawn.

South Africans are well-acquainted with navigating change - from leadership changes to political uncertainty. We have consistently shown the ability to adapt, remain resilient, and refocus on what truly matters. This same disciplined perspective is just as important when it comes to long-term investing.

Yes, markets may react to uncertainty, but it’s important not to be swayed by daily headlines in the news. What matters most is staying focused on the bigger picture and making decisions with a long-term view.

Investment planning is a technical exercise and requires skill. And that is why we recommend speaking to a qualified financial planner – someone who specialises in providing holistic advice, understands the markets, and ensures that your investment portfolios remain sufficiently diversified to help mitigate potential short-term losses. To speak to a financial planner, you can visit the Old Mutual Wealth and Unit Trusts secure site or call us on 0860 999 199.

I want to thank you for your continued support. We are grateful for your unwavering trust in us, as we do not take the responsibility of partnering with you on your financial and investment journey lightly.

I hope you find the news and insights in this edition informative and engaging.

Kerwyn