Investment Perspectives - October 2025

Trade tensions, geopolitical conflicts and fiscal policy shaped the last three months. In the UK, inflation stayed above the Bank of England’s target, touching 3.8% in both July and August. Despite this, policymakers cut rates to 4% from 4.25% at their August meeting. In the eurozone, inflation was more contained, staying steady at 2%. But in the US, it was on the rise, creeping up to 2.9%. 

Elsewhere, we saw long-term gilt yields climb in September, peaking in response to changes in monetary policy and issuance. At the time of writing, all eyes are on the forthcoming Autumn Budget.

In this edition of Investment Perspectives, we’ve curated a range of articles that explore the implications of this constantly evolving environment. Here’s what you can expect from us:

• Chiara Beaton, Investment Research Analyst, and Penny Cochrane, Senior Investment Research Consultant, offer a practical guide to asset-backed lending, highlighting how it can play a role in diversified investment portfolios.
• Priyanka Dubb, Senior Responsible Investment Analyst, explores exclusions frameworks in an environment increasingly focused on climate change, human rights and defence.
• Daniel Boulton-Jones, Investment Research Analyst, and Asad Rashid, Senior Investment Research Consultant, unpack how private equity has fared over the first half of the year and consider the outlook.
• Our capital markets team provide us with their quarterly capital markets update.
• And last but not least, we sit down with Christina Williams, Senior Investment Consultant, for our quarterly fireside chat. 

To read the full edition, click below: 

Read the full edition

We’re always keen to hear how we can help you achieve the best investment outcomes for your pension scheme members. Please get in touch for a one-to-one conversation on any of the topics covered in our articles.

Important information

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.