– Thanks to a solid Q2 earnings season, August started well for equity markets unfortunately, the mood turned following a more hawkish tone at Jackson Hole with Fed reinforcing the need to keep interest rates in restrictive territory as long as necessary to bring inflation down.

– Considering the equity bias of the funds range, performances year-to-date across the range is mostly in negative territory (excluding LatAm) along with peers. This is the time to stay close to investors and ensure we provide any useful information and updates.