Key Takeaways: Income+ portfolios continued to deliver attractive payout yields. The annualised distribution yield rose to 5.6% for Income+ Preserve (from 5.4% in Q1) and 5.9% for Income+ Enhance (from 5.5% in Q1). REIT+ outperformed benchmarks and fared better than many global equity indices with YTD gains of +4.3%. Cash+ Flexi portfolios exceeded current projected returns of 2.5% (SGD) and 4.2% (USD).
After a turbulent first quarter, the second quarter of 2025 saw global markets face fresh uncertainty but ultimately show resilience. The quarter began with fears over sweeping US trade tariffs that rattled equities and bonds, but sentiment improved as the US temporarily suspended most new tariffs and recession worries eased. In the US, shares rebounded as optimism returned to the “Magnificent 7” and AI-related stocks staged a strong comeback, supported by solid Q1 earnings. However, the US dollar weakening has been the biggest macro story…