Syfe Core Portfolios Monthly Update: Mega-Cap Tech Leads July Rally

Global equities rallied in July on policy clarity, strong tech earnings, and AI-driven momentum. Here’s how our portfolios performed and what investors should watch going forward.

Markets rallied in July, driven by strong tech earnings, AI momentum, and renewed policy clarity. The passing of the One Big Beautiful Bill Act (OBBBA) and fresh trade deals lifted global sentiment, with growth stocks leading the way. Core Equity100 returned +4.22% in SGD, outperforming the MSCI ACWI benchmark at +3.47% for the month of July. Other Core portfolios also posted strong gains, supported by exposure to mega-cap tech, emerging markets, and diversifiers like gold. Over the past year, our Core portfolios have outperformed both their benchmark and peers, reinforcing the strength of our systematic, globally diversified investment approach.

Key highlights

China Leads, Global Exposure Pays Off

Source: Syfe, Bloomberg. As of 31 July 2025 in SGD. China remains our…