Ativo Q3 2025 Commentary
Monday, November 3, 2025
The third quarter of 2025 was characterized by a complex interplay of geopolitical tensions, policy easing, and sustained
AI-driven technological optimism. Global markets posted positive gains, with equities generally benefiting from resilient
corporate earnings and anticipation of continued central bank accommodation. The MSCI All Country World (ACWI)
index delivered a robust return of 7.62%.