Chris Sutton

Renewed interest rate uncertainty in the US and UK have reinforced our preference for shorter-dated investment grade corporate debt. After an outstanding 2024, we still see good opportunities on a risk-adjusted basis.

The US is likely to continue to dominate equity market returns, but with an increased shift towards the valuation opportunity in mid and small cap. Longer-duration assets such as infrastructure offer significant potential over the medium term, but with renewed interest rate uncertainty, may mark time over the first half of the year.