Ria Portfolio Performance Review – Nov 2025

November was a tough month for investments, with markets pulling back after earlier gains this year. ASN Equity Global dropped -2.84%, while ASN Equity Malaysia fell -1.10%. ASN Sukuk delivered a small positive return of 0.22%, showing its value in protecting portfolios when stock markets decline.

The drop in stock markets affected our portfolios differently in November. Monthly returns ranged from 0.11% for Very Conservative to -1.85% for Very Aggressive. Portfolios with more stocks faced bigger losses, while those with more bonds and fixed income investments held up better during the market pullback.

Despite November's setback, all portfolios remain positive for the year. The conservative portfolios showed their strength with Very Conservative leading at 4.43%, followed by Moderately Conservative at 4.35%, and Moderate at 4.10%. The more aggressive portfolios delivered Moderately Aggressive at 3.71%, Aggressive at 3.39%, and Very Aggressive at 3.29%. This shows how a balanced mix of investments can help protect your money when markets become volatile.

Since Ria launched, our investment approach has created solid returns across all portfolio types. The Aggressive portfolio leads with 12.94% total returns, followed by Moderately Aggressive at 12.24% and Very Aggressive at 11.86%. The Moderate strategy returned 10.80%, while the defensive portfolios performed well with Moderately Conservative at 9.37% and Very Conservative at 7.80%. These results show that spreading your investments across different types and staying invested through ups and downs benefits patient investors over time.

Market Commentary – November 2025

November 2025 was a challenging month for global markets, with most major indexes falling as investors took profits after strong gains earlier in the year. US stocks declined, with the S&P 500 dropping -1.05% in November, bringing its year-to-date return to 8.64%. The MSCI World Index also fell -1.27% for the month but remained up 12.29% for the year, as concerns about slowing economic growth weighed on sentiment. In Europe, markets moved lower across the board: Germany's DAX fell -1.12% in November but still holds a strong 23.80% gain for the year. The UK's UKX dropped -0.11% for the month and is up 20.95% year-to-date, while France's CAC declined -0.56% bringing its annual return to 18.62%.

Asia also experienced significant weakness during November. Japan's Nikkei Index gave back some of its recent gains, falling -1.64% for the month, though it remains up an impressive 23.22% for the year. Hong Kong's HSI also fell -1.55% for the month, however still maintaining its solid 23.22% year-to-date return. Malaysia's FBMKLCI declined -0.26% in November, bringing its modest year-to-date return to 1.66%, as local investors remained cautious about economic prospects and global headwinds. Despite that, FBMKLCI has staged a steady recovery from its April lows, supported by the ringgit’s sustained appreciation against the US dollar.

Turning to commodities, gold was the standout performer and proved its value as a safe haven, rising 4.54% in November and an impressive 49.29% for the year. This strong performance reflects ongoing concerns about inflation, currency stability, and geopolitical tensions. Oil fell -3.68%, with its year-to-date loss now at -0.56%, as worries about global demand and rising supply kept prices under pressure. Bitcoin crashed -18.08% in November, erasing earlier gains and now down -9.84% for the year, as risk appetite dried up and investors moved away from speculative assets during the market pullback.

November's market weakness reminded investors that corrections are a normal part of investing, even during generally positive years. The pullback affected most asset classes, with only gold providing protection during the downturn. Meanwhile, the technology sector continues to drive long-term growth despite short-term volatility. AI development remains a major investment theme, with the magnificent seven tech giants including NVIDIA, Meta, Tesla, Microsoft, Apple, Amazon, and Google leading the charge as companies race to build larger data centers and develop more powerful applications. NVIDIA in particular has been at the forefront of the AI revolution, powering the data centers that run advanced AI models. While November showed that even the strongest tech stocks aren't immune to market corrections, the fundamental story of digital transformation and AI adoption remains intact. For investors looking to participate in this long-term trend, maintaining exposure through globally diversified funds like our ASN Equity Global provides access to these innovative companies while spreading risk across different markets and sectors.

Overall, November served as a reminder that markets don't move in straight lines. The month's losses were disappointing but not unexpected after the strong run-up earlier in the year. Investors who stayed calm and maintained their positions are better positioned for the recovery that historically follows market pullbacks. History shows that the biggest mistake investors make is selling during temporary declines and missing the recovery that follows. Those who finish 2025 with the best results will likely be the ones who kept their emotions in check, stuck to their investment plan, and remained invested through both the good and challenging months.

RIA Reminder – Stay Calm Through Market Pullbacks and Stay Invested

November reminded investors that market corrections are a normal and healthy part of investing. While most major indexes fell during the month, with stocks pulling back after strong gains earlier in the year, this temporary setback doesn't change the long term story. Markets experienced widespread weakness as investors took profits, but those who stayed invested remained positioned for the recovery that historically follows these pullbacks.

This month showed why having different types of investments matters. While stocks declined across most regions, gold shined brightly, rising over 4.5% and proving its value as a safe haven during tough times. This is exactly why diversification works: when one asset class struggles, others can help cushion the blow. The biggest mistake investors make isn't experiencing short term losses; it's panicking and selling during temporary declines, missing the recovery that typically follows.

You don't need to react to every market downturn or change your plan when prices fall. Market corrections are normal, expected, and actually healthy for long term growth. The investors who finish the year strongest will be those who kept their emotions in check and stayed invested through both the good months and the challenging ones. Let your investments ride out the volatility and let time work its magic: wealth is built through patient commitment, not perfect timing.

Log in to Ria and see for yourself how staying invested and avoiding panic creates lasting financial freedom, one month at a time.