Markets have come under renewed pressure following President Trump’s announcement of a sweeping “reciprocal tariffs” plan. The proposed measures were broader and steeper than anticipated, with a base 10% tariff and additional levies on select countries and goods. This announcement reinforces the recent stock market weakness. The question now is how markets will digest the real-world impact of these tariffs.

In a substantial reversal of economic doctrine, Europe's austerity era seems to have come to an end with Germany’s decisive electoral shift and the unveiling of a staggering trillion-euro stimulus package. After an enduring industrial slump, Germany’s recent fiscal manoeuvre marks a clean break with decades of austerity policies.

European value equities are seeing renewed investor interest as the continent's economy begins its recovery. But does pursuing value imply putting environmental ambitions aside? With our DPAM L Equities Europe Value Transition fund, we position ourselves precisely at this intersection – looking to capture value opportunities without compromising on sustainability.