Janus Henderson Investors is considering reducing its exposure to U.S. assets due to rising market volatility and uncertainty surrounding President Donald Trump’s economic policies, according to a Bloomberg report on Wednesday.
The asset manager may shift as much as 10% of its assets under management away from U.S. markets, said CEO Ali Dibadj in an email interview with Bloomberg. The move reflects growing skepticism about the long-standing belief in U.S. market strength.
As of the end of 2024, Janus Henderson managed approximately $378.7 billion in client assets, with 62% tied to North America, according to the company’s website.
Dibadj noted that the funds could be redirected to regions such as Asia, China, Europe, and the Middle East.
The potential shift comes amid growing investor concerns over Trump’s economic decisions. Markets have been rattled by the President’s aggressive stance on trade and inconsistent policy signals.
Earlier this month, Trump announced plans for reciprocal trade tariffs. The announcement triggered a massive sell-off, erasing around $10 trillion in global market value. Although he later softened some of the proposed measures, the market recovery has been limited.
Trump also reignited trade tensions with China, imposing tariffs as high as 145%—a move that added to global unease.
The U.S. dollar dropped to a three-year low in April, while Treasury prices also declined, signaling reduced investor confidence in American assets.
So far in 2025, the S&P 500 has fallen about 10%, driven in part by Trump’s recent criticism of the Federal Reserve. Although he has moderated his tone toward both the Fed and China, markets remain cautious about future developments.
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