The third quarter of 2025, ending 30 September, has seen gains for most equity indices around the world. The continued momentum behind artificial intelligence (AI) and the materialisation of a long-anticipated interest rate cut from the US Federal Reserve contributed to the positive momentum. The S&P 500 index of large-cap stocks and the tech-heavy Nasdaq…
Gold has been on a tear in 2025, surging 50% in value and setting more than 30 nominal records for the year to date. During September alone, gold racked up a 10% gain as investors fretted about inflation and a looming US government shutdown. Gold is at the top of the performance tables for 2025,…
Many people conflate ETFs (exchange-traded funds) with ‘passive’ management and unit trusts or mutual funds (Funds) with ‘active’ management. This is a fallacy. In reality, there are both actively managed ETFs, where portfolio managers select securities in an effort to outperform a benchmark, as well as many passively managed Funds. A related myth is that…
At Dynasty, we’ve traditionally had a strong bias towards ‘quality’ in our clients’ global equity portfolios. In brief, the quality investment style favours stocks with strong balance sheets, stable earnings, and high returns on equity. Such companies have strong heritage brands, substantial pricing power, credible management teams, and operate in sectors with high barriers to…
