Fund Insight – November 2025
Here is the NDL Fund Insight for November 2025. Download PDF
Here is the NDL Fund Insight for November 2025. Download PDF
The unbroken run of equity market gains since April’s Liberation Day sell-off continued into October, driven again by AI stocks. The MSCI World index returned 2.0% in the month, with the S&P 500 +2.3% and the Magnificent 7 (Mag 7) megacap tech stocks +5.2%. By the end of October, the
Here is the NDL Fund Insight for November 2025. Download PDF
October saw a broad equity rally led by AI megacaps; non-US gains were muted in USD terms, and bond returns were driven more by FX than falling yields. Softer US labor/inflation set up a rate cut and QT halt, while a limited US–China truce eased select tech/tariff curbs; China stayed weak