In our spring market update, Ali Phillips, President, and Adam Savin, Senior Vice President, reflect upon a quarter defined by volatility and uncertainty, with a reminder that attractive long-term opportunities are often discovered during challenging periods. They examine the primary forces that drove turbulence in the first quarter: geopolitical conflict, the threat of renewed inflation pressure, and a reset around interest rate expectations. Despite modest market index declines in the quarter, corporate earnings strength and continued AI investment cycles support underlying fundamentals. Our approach emphasizes staying invested through volatility, maintaining diversification, and owning businesses and assets with the durability to grow through the cycle. This, along with high-quality bond exposure, will help protect portfolios in an environment where rates are likely to remain elevated longer than previously expected.
