Richard Parkin, Head of UK Retirement at BNY Investments, explains how a structured Natural Income strategy, like BNY’s Multi-Asset Income Fund, provides a modern, reliable solution for retirement income that supports advisers in delivering sustainable, predictable outcomes amid changing client needs and regulatory expectations. This article was originally published in IFA Magazine and authored by Sue Whitbread.

This year has been characterized by policy uncertainty and fears about the potential impact of tariffs on inflation. While many expected the consumer would crack amid weaker sentiment, it hasn’t happened yet. Retail sales remain resilient, supported by a job market that remains good enough to support spending.

After years of outperformance, the U.S. underperformed other regions during the first quarter. While the debate over whether U.S. exceptionalism can persist continues, the U.S. has resumed its leadership since mid-April - led by the technology sector.

By no measure are we seeing a booming job market, but we are also not seeing a deteriorating one. In fact, current labor metrics lead us to conclude that the job market remains “good enough” to support our economic growth expectations for the year.

George Dent reflects on markets of the past five years and the impact this has had on Walter Scott clients, and outlines their intentions and strategies for the future…

International equity markets are outperforming the U.S. year to date. Is this a durable trend? According to relative earnings growth, the U.S. still has an advantage.

The risks faced by those seeking retirement income differ from those accumulating wealth. This suggests we need to follow a different approach to assessing risk and investing for retirement income clients.

The labor market is an important consideration when evaluating the economic growth prospects of a country. In the U.S., unemployment and demographics metrics look favorable compared to other major economies.