Ria Portfolio Performance Review – July 2025
July delivered solid gains across our investment lineup, driven by continued strength in global equity markets. ASN Equity Global led the charge with a robust 2.99% return, maintaining its momentum from previous months, while ASN Equity Malaysia posted a modest but positive 0.39% gain amid mixed domestic market conditions. ASN Sukuk contributed steadily with a 0.64% return, reinforcing its role as a sustainable income generator and portfolio stabilizer during varying market conditions.
Building on our recently refreshed Capital Market Assumptions that better reflect current global market dynamics, the strength in global equities propelled all portfolio strategies higher, with more aggressive allocations capturing the greatest upside. The Very Aggressive strategy topped performance with a 1.83% return, followed by Aggressive at 1.51% and Moderately Aggressive at 1.25%. More conservative approaches also participated in the gains, with Moderate up 1.04%, Moderately Conservative rising 0.87%, and Very Conservative advancing 0.63%. Year-to-date performance shows a mixed picture, with conservative strategies maintaining solid positive territory at 3.26% (Very Conservative) and 2.44% (Moderately Conservative), while more aggressive portfolios face headwinds from earlier market volatility, with Aggressive at -0.16% and Very Aggressive showing a slight decline of -0.74%.
Since Ria's launch, our diversified approach continues to demonstrate its value across risk profiles. The Aggressive portfolio leads cumulative returns at 9.06%, closely followed by Moderately Aggressive at 8.96%, Moderate at 8.15% and Very Aggressive at 7.50%. Meanwhile for the more defensive side, The Moderately Conservative has achieved a reliable 7.36% return and Very Conservative sits at 6.60% cumulative return. These results demonstrate relatively consistent performance across risk profiles since launch, reinforcing our philosophy that staying invested across market cycles rewards patience and discipline.
Market Commentary – July 2025
Global equity markets continued their upward trajectory in July, with the MSCI World Index rising 2.76% for the month, bringing its year-to-date return to 6.71%. US markets maintained strength, with the S&P 500 advancing 3.63% in July to reach 3.58% year-to-date, supported by small-cap outperformance and cautious optimism around Federal Reserve policy. The Fed held rates steady at 4.25%-4.50% for the fifth consecutive meeting, though most committee members signaled potential cuts ahead.
Europe continued to be one of the year’s strongest regions, supported by rate cuts from the European Central Bank, resilient corporate earnings, and strong inflows into regional equity funds. Germany’s DAX, despite slipping 0.93% in July, still leads with an impressive 27.01% year-to-date return. The UK’s FTSE 100 added 1.94% in July to bring gains to 15.04% for the year, while France’s CAC Index eased 0.12% but remains up 14.13% year-to-date. In Asia, performance was mixed as Japan’s Nikkei fell 1.59% in July on softer economic data but is still ahead 3.76% for the year, while Hong Kong’s Hang Seng jumped 4.51% amid optimism over China’s policy support. Malaysia’s KLCI slipped 1.27% in July, extending its year-to-date decline to 5.85% on continued weakness in banking and plantation stocks.
Commodities presented varied results in July. Oil rallied an impressive 10.15% during the month, driven by supply concerns and geopolitical tensions, though it remains up 6.89% for the year. Gold gained 0.95% in July, supported by expectations of future rate cuts and safe-haven demand, and continues as a top performer with a 19.58% year-to-date return. Overall, July’s performance reinforced the value of global diversification across asset classes and regions, with European markets and gold leading year-to-date gains while regional equity markets moved at different speeds.
Ria Reminder – The Journey Shapes the Destination, The Destination Inspires the Journey
July was a good month for your investments, and that feels wonderful. There's something deeply satisfying about watching your hard-earned money grow, knowing that each gain brings you closer to the financial future you're building for yourself and your loved ones.
But here's what we've learned from helping thousands of investors: the most successful ones understand that building wealth is like tending a garden. Some seasons bring abundant growth, others test your patience, but those who consistently care for their plants, season after season, eventually enjoy the richest harvest.
Right now, while your portfolio is growing, it's the perfect time to reconnect with your deeper purpose. Why did you start investing? Was it for your children's education, your retirement dreams, or the security of knowing you'll be okay no matter what life brings? Those reasons haven't changed, even if the market numbers have.
Log in to Ria today and look at your portfolio. Not to make changes, but to appreciate how far you've already come on this journey.