July 2025 EU/UK SMA Performance Report

PORTFOLIO PERFORMANCE

The EU-UK Portfolio returned +1.2% in AUD terms for the month of July, outperforming the Stoxx 600 benchmark, which gained just +0.2%. In EUR terms, the portfolio rose +2.0%, with currency movements detracting 80 bps due to AUD strength against the euro. This marks the second consecutive month of active outperformance, driven by targeted allocations to beneficiaries of European infrastructure spending and M&A activity………(more)