International Equities

Unhedged and hedged international equities exposures again finished down in the month of February. Unhedged fell 5.46% hedged fell 2.72%. Whilst the markets were trending downwards due to the impacts of rising rates and inflation, Russia’s invasion of Ukraine in the last few days of February really spooked markets further to the downside as the costs and repercussions of war were priced in.

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