Here are the biggest gainers amid April's market chaos

Global markets have been on a rollercoaster ride throughout the month of April, reacting to the back-and-forth announcements regarding trade tariffs by President Trump. The markets initially plunged after aggressive tariffs were announced on April 2nd, only to rebound when the temporary pause on tariffs was declared on April 9th. This volatility has led investors to seek alternative safe havens, with global bonds, gold, and listed property emerging as the big winners in April. Contrary to historical trends, U.S. Treasuries did not reign as the preferred safe haven asset, with European and Japanese bonds taking the spotlight instead. Gold also saw a surge in prices due to its safe haven appeal and a weaken dollar. South African equities performed particularly well, with listed property emerging as the top asset class in both the local and global markets. Amidst this uncertainty, the debate over U.S. exceptionalism has also gained traction, with investors questioning the reliability of U.S. assets as a long-term investment. Despite the market's recovery, there is still a preference for ex-U.S. equities, indicating a shift in investor sentiment towards non-U.S. markets. As the trade tensions continue to unfold, investors are advised to consider a higher risk premium when allocating investments in U.S. assets, making other global assets more attractive. President Trump's unpredictable trade policies have created a climate of uncertainty, leading to a strategic rethink in asset allocation. The upcoming meeting between President Ramaphosa and President Trump adds another layer of complexity to the situation. South Africa's reliance on mineral exports may play a key role in negotiations, especially in addressing potential tariffs on the auto industry. The outcome of the meeting remains uncertain, but it will be crucial in determining the future of trade relations between the two countries. With the global markets poised for further fluctuations, investors are advised to closely monitor developments and adjust their portfolios accordingly.