We enclose our Summer Update covering the reporting period from October to December 2025. With the final quarter of the year delivering further positive returns, investment portfolios ended the year on a positive note.
Within the current update, the lead article provides an overview of the quarter and highlights several economic and market themes. These themes include having an awareness of concentration risks when investing, the unsung performance of emerging markets, a New Zealand economy status check, and an update on the realignment of global interest rates in the post-Covid era.
A more detailed summary of the various market returns through the quarter is covered in the key market movements section.
The feature article titled ‘The top 3 ways money probably didn’t make you happy in 2025 – and the 3 ways it might in 2026’ addresses the age-old idiom that money can’t buy happiness and identifies practical ways that it can help us enrich our lives.
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