DC Provider Market Snapshot Q1 2025
Investment
In this Q1 update, we share a snapshot of the DC market.
- Mixed equity returns: UK and Emerging Markets rose, but Global Equities (led by US declines) fell due to trade policy fears, weak US data, and President Trump’s tariff uncertainty.
- UK gilt declines: Yields rose on fiscal health worries, inflation, weaker growth, and increased fiscal issuance.
- Bond outperformance: Corporate/High-Yield bonds beat gilts, with High-Yield also boosted by higher income yields.
- Property recovery: UK commercial property rebounded despite lower Q1 activity, led by the office sector’s strongest quarterly gain in nearly two years.
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