Nomura Mid Cap Income Opportunities Fund Q4 2025 Commentary

TL;DR

Market review Global markets continued their upward climb in 4Q25, primarily fueled by strong growth stock performance. Investors continued to chase metals higher as fears of currency debasement and inflation continued to permeate. Enthusiasm for advancements in Market review US equities rose in 4Q25 amid a complex mix of optimism about growth driven by artificial intelligence (AI) and growing concerns about profitability, spending, and macroeconomic uncertainty.