{"id":25706,"date":"2025-10-13T10:50:03","date_gmt":"2025-10-13T02:50:03","guid":{"rendered":"https:\/\/www.syfe.com\/magazine\/?p=25706"},"modified":"2025-10-13T10:50:04","modified_gmt":"2025-10-13T02:50:04","slug":"syfe-core-portfolios-monthly-update-q3-2025-outperformance","status":"publish","type":"post","link":"https:\/\/www.syfe.com\/magazine\/syfe-core-portfolios-monthly-update-q3-2025-outperformance\/","title":{"rendered":"Syfe Core Portfolios Monthly Update: Q3 2025 Outperformance"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

Global markets gain amid Fed cut and tech resilience.\u00a0<\/h3>\n\n\n\n

September marked a pivotal month for global markets as the US Federal Reserve delivered its first rate cut of 2025, easing financial conditions and boosting investor sentiment. Equity markets rallied, with gains led by technology and China, while fixed income assets saw a rebound. Gold continued its strong run, supporting our multi-asset portfolios. All Core portfolios outperformed their benchmark for the quarter.<\/p>\n\n\n\n

Note: All returns throughout the article are quoted in SGD.<\/em><\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Key Highlights and What They Mean for You<\/strong><\/h2>\n\n\n\n

These highlights not only show where returns came from in September, but also illustrate how our approach translates into stronger outcomes for our investors.<\/p>\n\n\n\n

1. Global exposure continues to pay off<\/strong><\/h3>\n\n\n\n
\"\"<\/figure>\n\n\n\n

Source: Syfe research, September 2025<\/em><\/p>\n\n\n\n

China remained the standout region in September, extending its 2025 rally. The iShares MSCI China ETF (MCHI)<\/strong> and KraneShares CSI China Internet ETF (KWEB)<\/strong> gained 8% and 11%<\/strong> respectively, bringing both above +34% year-to-date<\/strong>. Broader emerging market exposure, represented by the iShares Core MSCI EM IMI UCITS ETF (EIMI)<\/strong>, also delivered a solid ~7%<\/strong> gain in September.<\/p>\n\n\n\n

This continued strength outside the US reinforces our diversified approach across geographies, capturing opportunities beyond the mega-cap-led US market<\/p>\n\n\n\n

2. Tech and AI rally powers US equities<\/strong><\/h3>\n\n\n\n

Despite concerns about softer US growth, technology and AI-linked companies continued to lead the market. The Invesco QQQ Trust (QQQ)<\/strong>, which tracks the Nasdaq-100, rose ~6%<\/strong> in September and 11% year-to-date<\/strong>, outpacing the S&P 500. <\/p>\n\n\n\n

Within Equity100, this tilt toward growth supported returns, though other factors such as Size, Value and Quality lagged this month. These factors can go through shorter periods of underperformance, which is not unusual, and have historically delivered stronger returns over the long term.<\/p>\n\n\n\n

3. Multi-asset portfolios: Bonds rise on Fed Cut and gold streak continues<\/strong><\/h3>\n\n\n\n

Our multi-asset portfolios: Core Growth, Core Balanced and Core Defensive which invest across Equities, Bonds and Gold, all outperformed their benchmarks. These portfolios are designed to target varying levels of reduced risk compared to an all-equity Equity100 portfolio, by diversifying across asset classes.<\/p>\n\n\n\n

The Fed\u2019s first rate cut of 2025 led to price gains across fixed income markets as yields fell. Bond ETFs such as the iShares US Aggregate Bond ETF (IUAA)<\/strong> and iShares Global Aggregate Bond ETF (AGGU) <\/strong>gained modestly whilst our exposure to investment grade corporate bonds through the iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD)<\/strong> gained over 2%.<\/p>\n\n\n\n

Gold (GLD)<\/strong> extended its rally to +38% year-to-date<\/strong>, making it a key contributor to Core Growth, Balanced, and Defensive <\/strong>portfolios. Its diversification benefits continued to cushion portfolios against market swings.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Source: Syfe research, 30 September 2025<\/em><\/p>\n\n\n\n

Looking Ahead<\/strong><\/h2>\n\n\n\n

Uncertainty is a constant in investing, but so is opportunity. Here\u2019s what our investment team is focused on:<\/p>\n\n\n\n