(Reuters) -New York City’s public pension system is weighing an increase in its overseas investments at a review slated for the year-end due to rising uncertainty from U.S. policy changes, the pension scheme’s investment chief told the Financial Times in an interview published on Wednesday.

U.S. President Donald Trump’s policies have taken investors on a rollercoaster ride over recent months since he took charge. In May, U.S. stocks recorded their biggest rally of any month since November 2023, but that was after global indexes had cratered under the barrage of Trump’s tariff announcements through February, March and early April.

International diversification was a “benefit to a portfolio . . . particularly coming off of a time when the U.S. has really outperformed and portfolios are so

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