Q4 of 2024 marked a strong finish to a positive year for investors, particularly those invested in U.S. stocks, which continued to drive portfolio performance. Several significant events influenced the market, making it somewhat of a standout in terms of geopolitical developments for 2024. President Trump’s landslide election victory, continued interest rate cuts by the Federal Reserve against resurgent inflation, geopolitical instability with two military conflicts, and Labour's first budget.
Overall, we at TAM were pleased with the performance of markets in 2024 and importantly our ability to capture this performance for our clients' portfolios. We, like many others, chose not to invest all of our clients' wealth into 10 mega-cap U.S. tech stocks. Instead, we voted to keep our clients' investments risk diversified across multiple investment styles and geographic markets, but all with the same goal in mind - high-quality investments from across the depth and breadth of the market, all geared to deliver long-term investment performance back to clients.
For our full review of Q4 2024, and an insight into our current positioning and strategy for Q1 2025, just click below.
If you would like to speak with us about this update, or to discuss our discretionary investment management services in general, please get in touch.
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Quarterly Market Update Q1 2025