Bentham Q4 2025 Webinar: The Trump-man Show Act 4
In a quarter defined by political theatre, persistent inflation pressures and resilient risk markets, Bentham Asset Management presented “The Trump-Man’s Show – Act 4: Climbing the Wall of Worry”, a Q4 2025 webinar examining the forces shaping global fixed interest and credit markets as the year drew to a close.
Continuing the reality-TV theme of a presidential term that feels like a lifetime, Chief Investment Officer Richard Quin and the Bentham investment team reflected on a year marked by policy surprises, tariff tensions, AI-driven optimism and ongoing geopolitical uncertainty. Against this backdrop, the discussion explored how markets continued to “climb the wall of worry” despite structural and cyclical headwinds.
The session reviewed portfolio performance across Bentham’s multi-sector strategies – including the Global Income Fund, Global Opportunities Fund and Defensive Income Fund – and assessed how positioning evolved through Q4 amid shifting rate expectations and credit spreads.
Richard also provided a broader reflection on 2025 and outlined Bentham’s outlook for 2026, addressing the macro themes likely to shape bond and credit markets in the year ahead.
Key topics include:
- Bentham’s investment portfolio returns for Q4 2025
- A review of major economic and market developments across 2025
- The outlook for fixed interest and global credit markets in 2026
- The “not-so-special K” economy and uneven growth dynamics
- AI’s productivity dividend – and its disruptive implications
- Inflation in a post-tariff world and China’s overcapacity challenge
- Key geopolitical risks to monitor
This session provides timely insights for investors navigating an environment where policy, politics and structural change continue to intersect – and where disciplined credit selection and active duration management remain critical in climbing the wall of worry.
