The past financial year was shaped by three powerful forces: rising geopolitical tensions, persistent inflation, and the accelerating investment boom in AI infrastructure. Together, these developments have reinforced a key theme that continues to influence markets today: inflation is proving more structural and enduring than many expected.
In this mid-year update, David Clark reflects on the economic and market events that defined the past 12 months and explains how our portfolios are positioned for the year ahead. From global equity opportunities and infrastructure investment to inflation-linked assets and attractive bond yields, he outlines the thinking behind our current positioning in an increasingly complex investment environment.