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Global Focused Growth Portfolio | Q4 2025 Review
Welcome, everybody
This is Jennifer Martin. I'm a global equity portfolio specialist supporting Global Focus Growth. And I've got Dave Eiswert, the portfolio manager of Global Focus Growth, here to talk about the recent period. And just as a reminder for our audience, we were recording this the last week of September. So, Dave, thank you for taking the time to review the portfolio results. And, you know, really, let's start with, you know, where we're going to talk about recapping the environment, our portfolio and discuss the positioning and outlook.
- So why don't we start with the main forces that are shaping today's global markets for the year and what they imply for the portfolio?
- Test data
Hi, Jennifer. Thanks. Thanks for doing this. I mean, we can recap the first half of the year and kind of how it sets up in the second half and then going into 2026. I mean, obviously we came into the year with the Trump presidency and then the real big shock early in the year was really around government spending and Doge and then ultimately Liberation Day and the tariffs.
And that really put a shock into the U.S. market because it was the threat of the U.S. really slowing spending, raising taxes through tariffs and slowing spending. And that put a real shock in the market and kind of, I think really, to some extent, did some damage to the US economy in the beginning of the year.