Portfolio Pulse - Jun 2025
Time for Caution
Overall Performance
May 2025 marked a period of recovery and recalibration across global financial markets, with the S&P 500 posting its strongest May since 1990—rising 6.2%—as investors balanced tariff uncertainties with optimism around Federal Reserve rate cuts and resilient corporate earnings. Despite early-month volatility driven by President Trump's "Liberation Day" tariffs and a brief surge in long-term Treasury yields above 5% on fiscal concerns, markets rallied mid-month after the U.S. and China agreed to temporarily reduce reciprocal tariffs from 125% to 10%, easing stagflation fears.
Against this backdrop, the portfolio delivered an exceptional 8.26% return in May—the strongest monthly performance of 2025 thus far. This surge reversed much of the first quarter's drawdown and lifted year-to-date returns to a solid 4.39%, with the portfolio's market value reaching $1,046,425.74.
Portfolio Allocation Analysis
The recovery was broad-based across both traditional and alternative assets, demonstrating the portfolio's ability to capture upside momentum whilst maintaining its diversified structure through volatile market conditions.
US Quality Equities (SPHQ): Delivered a solid 6.3% return, aligning with the S&P 500's strongest May performance since 1990 as tariff tensions temporarily eased and AI-driven earnings optimism sustained momentum in quality names.
Nuclear Energy (NLR): Surged an exceptional 23.1%, propelled by President Trump's executive orders streamlining reactor approvals and renewed policy support for nuclear infrastructure development.
Global Bonds (JPIB): Advanced a modest 0.3%, demonstrating resilience amid sovereign debt volatility as investors balanced ECB rate cuts against persistent concerns over US fiscal sustainability.
Ethereum (ETHA): Exploded 44.2% higher, the portfolio's standout performer, driven by accelerating institutional adoption and growing momentum in decentralised finance applications.
Bitcoin (IBIT): Rose 11.1%, evolving from its traditional tech-correlated risk asset profile towards a perceived hedge against dollar instability as shifting trade dynamics reshaped currency market dynamics.
Singapore REITs (CFA.SI): Posted steady gains of 0.8%, supported by stabilising interest rate expectations and improving retail leasing demand.
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Disclaimer
This publication is for informational and educational purposes only. There is no consideration given to the specific investment needs, objectives, or risk tolerances of any of the recipients. The information or opinions provided are personal views and do not constitute investment advice, a recommendation, an offer, or solicitation to subscribe for, purchase, or sell the investment product(s) mentioned herein.