May 6, 2025
News
Monthly Recap: April 2025
April brought a sharp spike in volatility, with markets initially plunging on renewed trade tensions before staging a strong recovery.
Our NDT US-Equities Momentum strategy entered the month with significantly reduced equity exposure in response to elevated risk conditions. This positioning proved effective: the strategy limited its drawdown during the early-April selloff and navigated the 20-day recovery with strong discipline. The portfolio ultimately delivered a +4.9% return, substantially outperforming the benchmark’s -0.1%. The strategy demonstrated its ability of protecting capital in stress periods while staying positioned to participate in rebounds.
Our NDT Global Multi Asset Momentum strategy returned +1.5% in April, outperforming its benchmark at -0.1%. Gains were supported by diversified exposure to developed and emerging market equities, Swiss stocks, and commodities. Fixed income and modest cash holdings helped dampen volatility but also allowed the strategy to participate in the April rebound while maintaining a defensive posture.
Market Commentary
April’s narrative was one of recovery and resilience, as markets rebounded from an early-month selloff sparked by geopolitical and policy uncertainty:
Tariff-Induced Turbulence: Markets fell sharply in early April after President Trump announced sweeping new tariffs on Chinese imports. On April 3 and 4, the S&P 500 experienced a significant two-day decline of 10.5%, marking it the fifth-largest two-day drop since 1950.
Rebound on Policy Reversal: A subsequent 90-day tariff pause and signs of renewed diplomatic dialogue triggered a powerful equity rebound. The S&P 500 and Nasdaq 100 logged their longest winning streaks in over a decade by month-end.
Earnings Season Boost: The Q1 reporting season began on a strong note. Roughly three-quarters of S&P 500 companies beat expectations, led by tech and financials.
Fed Turns Cautious: Federal Reserve officials struck a more dovish tone, signaling patience amid mixed macro data. Rates were held steady, with the Fed emphasizing financial stability and moderating inflation.
Mixed Macro Picture: U.S. GDP contracted by 0.3% in Q1 - its first decline since 2022 - driven in part by front-loaded imports ahead of tariffs. However, April’s strong job creation (177,000 new jobs), sends a positive signal amid recent recession fears.
Currency Watch: The U.S. dollar fell to a multi-year low, reflecting uncertainty around U.S. trade policy.
Top 3 Performers - April 2025
Several holdings delivered standout returns in April for the NDT US-Equities Momentum strategy:
Palantir Technologies Inc. (+41.5%)
Palantir surged in April as investor enthusiasm for AI-related companies reignited, with particular interest in firms tied to national security and data infrastructure.Netflix Inc. (+22.0%)
Netflix reported robust subscriber growth and expanding margins, driven by content efficiency and global expansion, as well as the market’s preference for cash-generative, defensible growth names.GE Vernova Inc. (+20.6%)
The newly spun-off energy and infrastructure firm impressed with strong forward guidance linked to grid modernization and renewable power investment.
Last Month's Strategy Returns
NDT Global Multi Asset Momentum:
A strategy designed for long-term global growth with controlled risk, implemented through cost-effective ETFs.
Factsheet
Live Performance
NDT US-Equities Momentum:
A focused strategy offering a concentrated portfolio of large-cap US stocks with strong momentum, enhancing a portfolio’s performance potential.
Factsheet
Contact us
For marketing purposes only. Advertising according to Art. 68 FinSA. All rights reserved.
Photo by Denis Linine
April brought a sharp spike in volatility, with markets initially plunging on renewed trade tensions before staging a strong recovery.
Our NDT US-Equities Momentum strategy entered the month with significantly reduced equity exposure in response to elevated risk conditions. This positioning proved effective: the strategy limited its drawdown during the early-April selloff and navigated the 20-day recovery with strong discipline. The portfolio ultimately delivered a +4.9% return, substantially outperforming the benchmark’s -0.1%. The strategy demonstrated its ability of protecting capital in stress periods while staying positioned to participate in rebounds.
Our NDT Global Multi Asset Momentum strategy returned +1.5% in April, outperforming its benchmark at -0.1%. Gains were supported by diversified exposure to developed and emerging market equities, Swiss stocks, and commodities. Fixed income and modest cash holdings helped dampen volatility but also allowed the strategy to participate in the April rebound while maintaining a defensive posture.
Market Commentary
April’s narrative was one of recovery and resilience, as markets rebounded from an early-month selloff sparked by geopolitical and policy uncertainty:
Tariff-Induced Turbulence: Markets fell sharply in early April after President Trump announced sweeping new tariffs on Chinese imports. On April 3 and 4, the S&P 500 experienced a significant two-day decline of 10.5%, marking it the fifth-largest two-day drop since 1950.
Rebound on Policy Reversal: A subsequent 90-day tariff pause and signs of renewed diplomatic dialogue triggered a powerful equity rebound. The S&P 500 and Nasdaq 100 logged their longest winning streaks in over a decade by month-end.
Earnings Season Boost: The Q1 reporting season began on a strong note. Roughly three-quarters of S&P 500 companies beat expectations, led by tech and financials.
Fed Turns Cautious: Federal Reserve officials struck a more dovish tone, signaling patience amid mixed macro data. Rates were held steady, with the Fed emphasizing financial stability and moderating inflation.
Mixed Macro Picture: U.S. GDP contracted by 0.3% in Q1 - its first decline since 2022 - driven in part by front-loaded imports ahead of tariffs. However, April’s strong job creation (177,000 new jobs), sends a positive signal amid recent recession fears.
Currency Watch: The U.S. dollar fell to a multi-year low, reflecting uncertainty around U.S. trade policy.
Top 3 Performers - April 2025
Several holdings delivered standout returns in April for the NDT US-Equities Momentum strategy:
Palantir Technologies Inc. (+41.5%)
Palantir surged in April as investor enthusiasm for AI-related companies reignited, with particular interest in firms tied to national security and data infrastructure.Netflix Inc. (+22.0%)
Netflix reported robust subscriber growth and expanding margins, driven by content efficiency and global expansion, as well as the market’s preference for cash-generative, defensible growth names.GE Vernova Inc. (+20.6%)
The newly spun-off energy and infrastructure firm impressed with strong forward guidance linked to grid modernization and renewable power investment.
Last Month's Strategy Returns
NDT Global Multi Asset Momentum:
A strategy designed for long-term global growth with controlled risk, implemented through cost-effective ETFs.
Factsheet
Live Performance
NDT US-Equities Momentum:
A focused strategy offering a concentrated portfolio of large-cap US stocks with strong momentum, enhancing a portfolio’s performance potential.
Factsheet
Contact us
For marketing purposes only. Advertising according to Art. 68 FinSA. All rights reserved.
Photo by Denis Linine