25 February 2026
The US market might be more promising than it seemsInvestors’ obsession with the US seems to be waning as returns from the country’s flagship S&P 500 index slowed from 24.5% in 2024 to 17.9% in 2025 and made an uncertain start to 2026.
So, it may seem surprising that in our latest rebalance, the AJ Bell investment team chose to increase the proportion of assets we hold in the US. Notably, our...