Article

UK equities: Q1 2025 market review and outlook

12 May 2025
Bethany Shard - Deputy Fund Manager
Bethany Shard
UK Equities Deputy Fund Manager

UK Equity markets were reasonably solid in the first quarter of the year. On the economic front, UK inflation has remained sticky and GDP growth is subdued. Despite the near-term uncertainties and volatility, we are optimistic at the medium to long-term outlook for UK equities. And we continue to see greater levels of interest in UK equities than we have seen in many years.

Beth shares her thoughts on the challenges of the last quarter and her outlook for UK Equities.

  • What’s been happening in the UK markets over the quarter?
  • Economic news
  • Fund performance over the quarter
  • Fund positioning
  • Outlook

Want to know more?

The fund is managed by Martin Walker, Head of UK Equities, and Deputy Fund Manager Bethany Shard. Click below to learn more about the fund and the UK Equities team.

Learn more

  • Investment risks

    The value of investments and any income will fluctuate (this may partly be the result of exchange rate fluctuations) and investors may not get back the full amount invested.

    The Fund typically has a concentrated number of holdings and may have a higher degree of risk than a Fund which invests in a broader range of holdings.

    The fund may use derivatives (complex instruments) in an attempt to reduce the overall risk of its investments, reduce the costs of investing and/or generate additional capital or income, although this may not be achieved. The use of such complex instruments may result in greater fluctuations of the value of the fund. The manager, however, will ensure that the use of derivatives within the fund does not materially alter the overall risk profile of the fund.

    The Fund is invested in companies primarily domiciled in one country, any unfavourable conditions presented on them through country-specific conditions such as changes in regulation, business or economic policy may have a more negative impact on the Fund's performance than on the performance of a Fund that is geographically diversified.

    Important information

    All information correct as at 30 April 2025 unless otherwise stated.

    This is marketing material and not financial advice. It is not intended as a recommendation to buy or sell any particular asset class, security or strategy. Regulatory requirements that require impartiality of investment/investment strategy recommendations are therefore not applicable nor are any prohibitions to trade before publication.

    Views and opinions are based on current market conditions and are subject to change.

    If investors are unsure if this product is suitable for them, they should seek advice from a financial adviser.

    For the most up to date information on our funds, please refer to the relevant fund and share class-specific Key Investor Information Documents, the Supplementary Information Document, the financial reports and the Prospectus, available on the website.