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Market & Portfolio Update
Performance Summary
Markets experienced a strong recovery from the end of March, following a month of escalating tensions and conflict across the Middle East. One of the main catalysts for the strong stock market performance despite the elevated risk to the global economy, was exceptionally strong financial results from several of the world’s largest technology companies.
This put artificial intelligence firmly back in focus, with those companies whose have profited in this area substantially outperforming. The below chart highlights this, with AI related companies rising over 45% since the end of March, whilst the broader US market has gained 16%. Drilling further down into AI beneficiaries, it has been pleasing to see the Cyber Security sector rising 61%, an area we have specific exposure to in client portfolios. We continue to be positive in this area, with the demand for cyber security only likely to increase from here.
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