Nov-25: Insights

​Read the latest Avastra Fund insights on Markets, Equities, Bonds and Alternatives for November 2025.

NOVEMBER 2025 UPDATE

MARKETS

​Equity markets were volatile in November, with global equities ending lower as risk appetite weakened across risk assets, while UK equity income remained resilient during the global market turmoil 

The UK Budget was announced without triggering significant market volatility. Gilts yields remained range bound and Pound Sterling avoided a post-Budget sell-off. 
​
The US dollar weakened and gold posted monthly gains as investors increasingly priced a more dovish Fed rate path. 

EQUITIES

​The VT Avastra Global Equity Fund returned -0.08% for the month and +13.13% YTD. 

• Sector switches include increasing allocations to Technology and Communication Services and moving away from Financials and Utilities. 
  
• Manager changes include introducing S&P 500 Top 20 exposure. 

The fund provides a “4-in-1” active allocation strategy across Regional, Sector, Factor and Manager strategies. 

BONDS

​The VT Avastra Global Fixed Income Fund returned +0.17% for the month and +4.40% YTD. 

• There were no changes to the fund this month. 

The fund provides an active allocation approach to managing duration and credit quality exposure within the Bond sector. 

ALTERNATIVES

​The VT Avastra Global Alternatives Fund returned +0.62% for the month and +14.09% YTD. 

• There were no changes to the fund this month. 

The fund provides both asset-based and risk-based diversification, as an alternative to equities and bonds.