Stock markets have set record highs several years in a row. At the end of 2025 a minority of companies in AI, banking and defence made up 37% of the MSCI World Index. But, share prices have struggled to hang on to these highs over the past few months, and the best and worst-performing sectors have traded places or ‘rotated’. So, how do we separate the wheat from the chaff?

Stock markets reached new highs in January, but US shares continued to lag Europe and Asia. Sentiment remained optimistic, the pound strengthened, and bond markets held steady. Prices for gold and silver reached new peaks as international tensions rose. 

We are pleased to announce today that CCLA becomes part of the Jupiter Group, a UK-based active investment management company. Becoming a part of Jupiter secures our ability to serve the sectors we were established to support and to extend the reach of CCLA’s stewardship approach. Please find a summary of the announcement, a message from CCLA and Jupiter CEOs, Peter Hugh Smith and Matt Beesley, and latest FAQs.  

Each month our investment team provide a macro outlook into global investment markets.