In this podcast, Portfolio Manager Jason Swartz shares his perspective on how the evolving conflict is influencing markets.

Key take-outs:

• Markets are currently pricing at a high-risk premium, resulting in extraordinary volatility.
• There is a real risk that oil prices remain higher for longer, potentially exceeding previous historical highs.
• Gold has not behaved as a traditional short-term haven due to profit-taking, but it remains an important form of structural sovereign risk insurance.
• South Africa has been particularly affected through currency volatility.
• If the conflict persists beyond two months, it could evolve into a broader growth shock with lasting structural shifts in supply chains, commodities and global economic power.
• Our message endures: remain diversified, avoid panic-driven decisions, and stay focused on long-term financial plans rather than reacting to dramatic headlines.