Monthly Fund Reports for May 2025

After an extremely volatile April, the month of May proved somewhat tame by comparison. While tariff uncertainty persists, risk appetite for the main part was constructive. There were the occasional tariff spot fires, such as Trump announcing a 50% tariff on European goods, but they were promptly paused pending further negotiations.

The RBA cut the cash rate from 4.10% to 3.85%, the second cut of the cycle as inflation continues to moderate. The board revised their forecasts with growth to come in softer than previously forecast (February), down some 30 bps to +2.1% YoY by year end.

Click below for monthly reports:

• Mutual Cash Fund

• Mutual Income Fund

• Mutual Credit

• Mutual High Yield