In this video, Fund manager Shaun le Roux argues that investors should focus on policy changes, rather than getting caught up in political rhetoric – which can be quite noisy. He first highlights the government of national unity as a case where policy has essentially not changed, despite high noise levels, and contrasts that to the US, where the increases in tariffs mark a departure from the previous policy stance. He then cautions investors against being complacent about the policy changes coming out of the US.