Fiduciary management oversight perspective: managing risk in a volatile market

In this publication, we explore how fiduciary managers navigated one of the most challenging moments of 2025. We outline the key themes that shaped their decisions, the signals they paid attention to, and the approaches that supported clients through uncertainty. 

We cover:

• How managers responded when volatility spiked, and what their choices reveal about decision‑making in fast‑moving markets.
• The factors that influenced portfolio resilience, including how different strategies coped under pressure.
• The signals and indicators managers prioritised, offering context on what drove their positioning during uncertain conditions.
• How communication played a pivotal role, and the different ways managers kept schemes informed and supported.
• The themes that matter for 2026, drawing out learnings that can help schemes strengthen oversight and prepare for the year ahead.

Read our publication

If you have questions or would like to discuss further, get in touch.

This communication has been compiled by Hymans Robertson LLP® (HR) as a general information summary and is based on its understanding of events as at the date of publication, which may be subject to change. It is not to be relied upon for investment or financial decisions and is not a substitute for professional advice (including for legal, investment or tax advice) on specific circumstances. HR accepts no liability for errors or omissions or reliance on any statement or opinion. Where we have relied upon data provided by third parties, reasonable care has been taken to assess its accuracy however we provide no guarantee and accept no liability in respect of any errors made by any third party.