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What a quarter it has been for financial markets. Geopolitics has once again been the key driver of returns across asset classes. Operation ‘Epic Fury’, which began at the end of February, has already significantly interrupted the supply of oil, gas and other crucial commodities. Disruption has been caused by the near total closure of the Strait of Hormuz, a narrow waterway, and strikes on key extraction, processing and refining facilities across the Gulf.
Please see attached the latest quarterly commentary for the Diversified Funds range.
