Beyond the Conflict

The Middle East conflict has added uncertainty to markets, but it has not changed our constructive view on the broader investment backdrop. While geopolitical shocks can briefly lift volatility and pressure risk assets, they have not yet been enough to justify a major shift in strategic asset allocation. For investors, the focus remains on staying disciplined and looking through near-term noise toward longer-term fundamentals.

That said, the situation reinforces the value of diversification and liquidity as key sources of resilience. We continue to see opportunity in maintaining a balanced portfolio approach while remaining alert to any escalation that could affect energy prices, inflation, or sentiment more broadly.