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Insights

Asset Allocation Update – May 2025

Headlines remain dominated by tariff discussions, and we have seen significant row back from the more extended and aggressive tariff levies that caused such distress in markets in early April. However, where there have been ‘deals’ the base line of a minimum tariff of 10% from the US remains in place, which suggests that while there is flexibility around the reciprocal tariffs, the tariff environment will still be substantially higher than in recent years. Risk markets, however, have reacted very positively to the de-escalation in the trade war, despite the likely longer-term tariff backdrop. 

Recent asset class changes and views - May 2025
Recent asset class changes and views - Investment Grade- May 2025
Asset Allocation Matrix - May 2025

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Is Japan’s positive investment story intact? We discuss market events, how we’re upgrading quality at attractive valuations and the outlook from here.
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Important Information

For professional investors only (not to be used with/ passed on to any third party). For marketing purposes.

 

This document contains information by Columbia Management Investment Advisers, LLC (CMIA). CMIA is an affiliate of Columbia Threadneedle Investments.

 

CMIA is registered as an investment adviser with the U.S. Securities and Exchange Commission.

 

The materials relating to the CMIA included in this document have been approved and provided by CMIA.

 

The views expressed are as of the date given, may change as market or other conditions change and may differ from views expressed by other CMIA associates or affiliates.

 

Past Performance does not predict future returns, and no forecast should be considered a guarantee either. Your capital is at risk. Since economic and market conditions change frequently, there can be no assurance that the trends described here will continue or that any forecasts are accurate.

 

This material should not be considered as an offer, solicitation, investment/legal/tax or accounting advice or an investment recommendation. The mention of any specific shares or bonds should not be taken as a recommendation to deal.

 

This communication is valid at the date of publication and may be subject to change without notice. Information from external sources is considered reliable but there is no guarantee as to its accuracy or completeness.

 

In the Middle East: This document is distributed by Columbia Threadneedle Investments (ME) Limited, which is regulated by the Dubai Financial Services Authority (DFSA).  The information in this document is not intended as financial advice and is only intended for persons with appropriate investment knowledge who meet the regulatory criteria to be classified as a Professional Client or Market Counterparty and no other person should act upon it. This document and its contents and any other information or opinions subsequently supplied or given to you are strictly confidential and for the sole use of those attending the presentation.  It may not be reproduced in any form or passed on to any third party without the express written permission of CTIME. By accepting delivery of this presentation, you agree that it is not to be copied or reproduced in whole or in part and that you will not disclose its contents to any other person.

 

In the UK: Threadneedle Asset Management Limited, No. 573204 and/or Columbia Threadneedle Management Limited, No. 517895, both registered in England and Wales and authorised and regulated in the UK by the Financial Conduct Authority.

 

In the EEA: Threadneedle Management Luxembourg S.A., registered with the Registre de Commerce et des Sociétés (Luxembourg), No. B 110242 and/or Columbia Threadneedle Netherlands B.V., regulated by the Dutch Authority for the Financial Markets (AFM), registered No. 08068841.

 

In Switzerland: Threadneedle Portfolio Services AG, an unregulated Swiss firm or Columbia Threadneedle Management (Swiss) GmbH, acting as representative office of Columbia Threadneedle Management Limited, authorised and regulated by the Swiss Financial Market Supervisory Authority (FINMA).

 

Columbia Threadneedle Investments is the global brand name of the Columbia and Threadneedle group of companies

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Paul Doyle

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Deeper integration within the EU, more focus on competitiveness and reduced internal trade barriers may make for stronger long-run equity performance.

Important Information

For professional investors only (not to be used with/ passed on to any third party). For marketing purposes.

 

This document contains information by Columbia Management Investment Advisers, LLC (CMIA). CMIA is an affiliate of Columbia Threadneedle Investments.

 

CMIA is registered as an investment adviser with the U.S. Securities and Exchange Commission.

 

The materials relating to the CMIA included in this document have been approved and provided by CMIA.

 

The views expressed are as of the date given, may change as market or other conditions change and may differ from views expressed by other CMIA associates or affiliates.

 

Past Performance does not predict future returns, and no forecast should be considered a guarantee either. Your capital is at risk. Since economic and market conditions change frequently, there can be no assurance that the trends described here will continue or that any forecasts are accurate.

 

This material should not be considered as an offer, solicitation, investment/legal/tax or accounting advice or an investment recommendation. The mention of any specific shares or bonds should not be taken as a recommendation to deal.

 

This communication is valid at the date of publication and may be subject to change without notice. Information from external sources is considered reliable but there is no guarantee as to its accuracy or completeness.

 

In the Middle East: This document is distributed by Columbia Threadneedle Investments (ME) Limited, which is regulated by the Dubai Financial Services Authority (DFSA).  The information in this document is not intended as financial advice and is only intended for persons with appropriate investment knowledge who meet the regulatory criteria to be classified as a Professional Client or Market Counterparty and no other person should act upon it. This document and its contents and any other information or opinions subsequently supplied or given to you are strictly confidential and for the sole use of those attending the presentation.  It may not be reproduced in any form or passed on to any third party without the express written permission of CTIME. By accepting delivery of this presentation, you agree that it is not to be copied or reproduced in whole or in part and that you will not disclose its contents to any other person.

 

In the UK: Threadneedle Asset Management Limited, No. 573204 and/or Columbia Threadneedle Management Limited, No. 517895, both registered in England and Wales and authorised and regulated in the UK by the Financial Conduct Authority.

 

In the EEA: Threadneedle Management Luxembourg S.A., registered with the Registre de Commerce et des Sociétés (Luxembourg), No. B 110242 and/or Columbia Threadneedle Netherlands B.V., regulated by the Dutch Authority for the Financial Markets (AFM), registered No. 08068841.

 

In Switzerland: Threadneedle Portfolio Services AG, an unregulated Swiss firm or Columbia Threadneedle Management (Swiss) GmbH, acting as representative office of Columbia Threadneedle Management Limited, authorised and regulated by the Swiss Financial Market Supervisory Authority (FINMA).

 

Columbia Threadneedle Investments is the global brand name of the Columbia and Threadneedle group of companies

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