July was volatile but generally positive for risk assets. Global equities rose modestly as solid earnings and AI optimism outweighed geopolitical and valuation concerns, while government bonds weakened amid higher oil prices, renewed inflation fears and hawkish central-bank guidance. Energy markets surged following disruption around the Strait of Hormuz, with Brent and WTI rising sharply, while gold gained slightly. In currencies, the dollar weakened late in the month, the euro strengthened modestly, and the yen rebounded sharply from multi-decade lows following intervention by Japan and the US.
| Portfolios | Share Class | |||||||
| A, B & C | D | E | H | I | J | L | R | |
Momentum Harmony Portfolios |
||||||||
| Global Balanced USD | A, B & C | D | E | H | ||||
| Global Balanced GBP (Hedged) | E | |||||||
| Global Balanced AUD (Hedged) | E | |||||||
| Global Balanced JPY | E | |||||||
| Global Growth USD | A, B & C | D | E | H | ||||
| Global Growth GBP (Hedged) | E | |||||||
| Global Growth EUR (Hedged) | E | |||||||
| Global Growth AUD (Hedged) | E | |||||||
| Global Growth JPY | E | |||||||
| Sterling Balanced | A, B & C | D | E | H | J | |||
| Sterling Growth | A, B & C | D | E | H | J | |||
| Cautious Income USD (Acc) | D | E | H | |||||
| Cautious Income USD (Dist) | A & B | D | ||||||
| Cautious Income GBP (Dist) | A | D | ||||||
| Cautious Income GBP (Acc) | E | J | ||||||
| Cautious Income EUR (Acc) | A, B & C | D | E | |||||
| Cautious Income AUD (Acc) | E | |||||||
| AUD Growth | A, B & C | D | E | H | J | |||
| Asian Growth | A, B & C | D | E | H | J | |||
Momentum Global Funds |
||||||||
| Global Equity USD (Acc) | A, B & C | D | H | I | J | R | ||
| Global Equity USD (Dist)* | A, B & C | |||||||
| Global Equity GBP (Acc) | A, B & C | H | ||||||
| Global Equity GBP (Dist) | L | |||||||
| Global Equity GBP Hedged (Acc) | A | |||||||
| Global Equity AUD | A | |||||||
| Global Fixed Income | A | I | ||||||
| Real Assets Growth & Income Fund USD Hedged | A | |||||||
| Real Assets Growth & Income Fund GBP (Acc) | A | L | ||||||
| Real Assets Growth & Income Fund GBP | R | |||||||
Curate Investment |
||||||||
| Global Sustainable Equity USD | A, B & C | D | H | |||||
| Global Sustainable Equity GBP | A, B & C | H | ||||||
| Global Sustainable Equity GBP Hedged | A, B & C | |||||||
| Global Sustainable Equity EUR Hedged | A, B & C | |||||||
| Global Sustainable Equity AUD | A & B | |||||||
| Global Sustainable Equity AUD Hedged | A, B & C | |||||||
| Global Emerging Markets Equity USD | A | |||||||
| Global Growth Equity Fund USD | A | |||||||
| Global Value Equity Fund USD | A | |||||||
*June 2026