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Investment Update: Russia/Ukraine - Caution is warranted

Last Updated: July 4, 2025

The events happening in Ukraine first and foremost provoke our deepest sympathies for the human suffering that is being brought about. We also have a duty to our clients to monitor the economic and market impact and keep you informed about the investment implications. What seems clear to us is that the conflict has increased both the upside risks to inflation and the downside risks to global growth.

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