Contents

Introduction and global market update


Market overview


Davy global equity portfolios


Theme 25 in focus


Developed 25 in focus


Irish equity market update


Investment themes


Important disclosures


J & E Davy Unlimited Company, trading as Davy Private Clients, is regulated by the Central Bank of Ireland. J & E Davy (UK) Limited, trading as Davy Private Clients UK, is authorised and regulated by the Financial Conduct Authority. Davy Group is a member of the Bank of Ireland Group. J & E Davy Unlimited Company, trading as Davy and Davy Private Clients, is regulated by the Central Bank of Ireland. Davy is a Davy Group company and also a member of the Bank of Ireland Group.

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