Investment Insights July 2025

In the second quarter of 2025, ongoing trade tensions, particularly between the U.S. and China, have created uncertainty in the global economy, leading to volatility in financial markets. 

Alex Qi, Assistant Portfolio Manager, shares insights from Mercer’s global network of investment experts, covering:

• How the market performed in the second quarter of 2025.
• The conflict between Israel and Iran and its impact on commodity markets.
• Key trends investors should keep in mind for the upcoming months.

New Zealand Defence Force Savings Schemes offer you the choice of seven different investment options. If you’re not sure if your investment option is right for you, take our Fund Selector and/or call NZDF’s appointed financial advisers, Become Wealth, on 0508 BECOME (0508 232 663) or email them at hello@become.nz.

Mercer’s team of experts based in 44 countries around the globe, including New Zealand, monitor global and local events and bring you the latest updates. We also produce an investment report each month covering the NZDF Savings Schemes, which includes returns for each of the seven funds in each scheme.

^{This information has been prepared by Mercer (N.Z.) Limited. The information contained in this article is intended for general guidance only. It does not take into account your particular financial situation or goals. Before making any investment decision, you should refer to the Product Disclosure Statement or consult an appropriately qualified financial adviser.}