Marius Oberholzer, Head of STANLIB Multi-Asset, says chaotic announcements on US tariffs caused wild swings in markets at the start of Q2, but by July asset prices were heading for new highs. The Multi-Asset team has become more cautious in its equity exposure since December, given policy uncertainty, and its bottom-up strategy in this environment. He also discusses the continued attractiveness of the US market and the potential in other regions.

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