Clarity and consistency amidst the current flux
Warwick Wealth Managing Director, Marc Wiese, on the need for clarity and consistency amidst the current flux. Warwick Wealth Matters – July 2025.
Dear Clients, Colleagues, Stakeholders and Partners,
As we enter the second half of 2025, I’m reminded just how quickly time flies, especially when you’re working hard, delivering results, and, yes, even having a bit of fun along the way. It’s been an incredibly dynamic year so far, both globally and locally, and this July edition of the Warwick Wealth Matters offers the perfect opportunity to reflect, take stock and look ahead.
From a global markets perspective, the first six months of 2025 have been a rollercoaster. Policy uncertainty has been front and centre, with heightened volatility across the board. The return of Donald Trump to the White House has undoubtedly stirred the pot. Having had time to pause, reflect and plan during the Biden administration, President Trump has hit the ground running in his second term, issuing a record-breaking number of presidential executive orders. In fact, by the end of June 2025, he had signed over 140 executive orders, the most of any President at this point in their term in office.
Coupled with sweeping new legislation, such as the much-debated Trump One Big Beautiful Bill, recently passed by the Senate, and the looming expiration of the Trump Tariff Pause, markets have been trying to price in a flurry of changes. While some sectors have surged, others have stumbled. Amid all the noise, the S&P 500 has still managed to deliver a solid 5% return for the first half of the year, a testament to the resilience and adaptability of the U.S. market.
Back home in South Africa, our own political theatre has been just as absorbing. The formation of the Government of National Unity (GNU) has brought with it a fresh dose of uncertainty, as the ANC and DA continue to negotiate their very different visions for the country. That said, the JSE posted an impressive 15% gain for H1 2025. But what’s driving this? Primarily, positive global sentiment toward emerging markets, improving commodity prices, a stable rand, and renewed interest from international investors have all played their part. Local corporates have also delivered encouraging earnings results, with many showing resilience and adaptability in the face of shifting policy landscapes.
So, what lessons can we draw from all this?
- Diversification remains a cornerstone of investment success. No one has a crystal ball, and asset managers must make well-informed decisions in an environment that can change in an instant. Whether it’s politics, legislation, economic data, or unforeseen events, diversifying across asset classes, geographies and industries continues to be one of the most prudent strategies for long-term success.
- Stay invested. Trying to time the market, especially in uncertain conditions, rarely works. History has shown that investors who remain patient and committed are generally those who reap the rewards.
From a company perspective, Warwick Wealth has had an outstanding start to the year. We’ve expanded our national footprint, opening several new offices across South Africa, and have seen meaningful growth in both assets under management and client relationships. Our investment partner, Orion Investment Managers, has also made notable strides, onboarding new equity advisors to further diversify style and strategy, and is preparing for the launch of additional funds to meet growing demand.
In closing, I’d like to thank each and every one of you—our clients, staff, partners, and stakeholders—for your continued trust and support. If at any time you would like to discuss your portfolio, market views, or anything else relating to your private wealth, we are here for you. Please don’t hesitate to reach out to your dedicated Wealth Specialist, Financial Planner or Advisor, or simply email us at [email protected] and we’ll make sure your message gets to the right person.
Warm regards during this cold winter!
