For investment professionals only.

In this month’s commentary, Simon Evan-Cook and Alex Paget of the MGTS Downing Fox Funds discuss how the recent dramatic falls in equity markets, initially triggered by news of a Chinese AI competitor in January, have been exacerbated by concerns over Trump's tariff announcements. Higher tariffs are expected to reduce company profits, causing share prices to drop. The greater issue is the uncertainty surrounding tariff levels, making it difficult for investors and companies to plan. This uncertainty can lead to cautious behaviour, reduced spending, and increased recession risks, creating a vicious feedback loop and ongoing market volatility.

MGTS Downing Fox Funds: commentary for March 2025

Recorded on 6 April 2025.

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Read the commentary here.

View the previous month's commentary here.

Important notice
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This video is intended for financial advisers and has been approved and issued as a financial promotion under section 21 of the Financial Services and Markets Act 2000 by Downing LLP. Any subscription to the fund should be made on the basis of the relevant product literature available from Downing, or from the ACD, Margetts Fund Management Ltd and your attention is drawn to the charges and risk factors contained therein. Any personal opinions expressed are subject to change and should not be interpreted as advice or a recommendation. Capital is at risk and investors should note that their investments and the income derived from them can fall as well as rise and investors may not get back the full amount invested.

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