Australian Unity Pro-D Investment Funds – Monthly Fund Updates for July 2025
Share markets saw solid gains in July. US President Donald Trump signed his “Big Beautiful Bill” into law after it secured necessary votes in Congress and the US Senate, and agreed to a 15% tariff rate on most imported Japanese and European goods under trade deals announced with the counterparts.
In exchange, Japan agreed to approve US automotive standards that would aid US vehicle imports, agreed to increase US rice imports by 75%, agreed to purchase 100 Boeing aircraft and pledged of US$550 billion into a “strategic industrial fund” aimed at bolstering key US industries via investment, loans and loan guarantees, while the EU agreed to increased market access for certain American agricultural and fishery products, elimination of tariffs on most US industrial goods and made a pledge to purchase US $750 billion in energy products over the next three years. Amended US tariff rates (ranging from 10% to 41%) for most nations were published late in the month, to commence in August.
The US “core” CPI print came in slightly below consensus, and US GDP growth printed 3% annualised in the second quarter. US Federal Reserve Chairman Jerome Powell held the US Federal Funds rate steady at a target of between 4.25% and 4.5% despite significant public pressure from President Trump to cut interest rates, and the RBA surprised Australian investors, holding the official cash rate steady at 3.85%.
Below are the links to the Fund Updates for the Pro-D Funds as at 31st July 2025
Further information
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