
Roadmap for uncertain times
Invest flexibly, seize opportunities
The economy continues to grow in the second half of 2025, but at a slower pace. And there is still a lot of uncertainty about US trade policy. Opt for a neutral equity position – and hold a bit more cash than earlier this year. This way, you can seize investment opportunities when they arise.
When uncertainty prevails – stay invested, be flexible
Trump’s ‘Liberation Day’ sent shockwaves across financial markets. Since then, trade tensions between the US and China have eased somewhat. Still, US tariff policies remain surrounded by uncertainty. As a result, investing in the second half of 2025 requires flexibility.
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“Investing in uncertain times is like sailing through fog: stay alert to avoid icebergs. But you also need to be ready to accelerate if a treasure island appears. That's where a cash position comes into play.”

Chris Huys – Senior Fixed Income Portfolio Manager
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Investing involves risks
Investing involves risks. You could lose (some of) the money you invested. If you are going to invest, it is important that you are aware of this. Invest with money you can spare. Read more about the risks associated with investments.
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