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As the Iran war triggered a widespread selloff, the Syfe portfolio held steady or outperformed its benchmark. Diversification was a strength for our core portfolio, our broad positioning beyond megacaps strengthened resilience, both Income+ and REIT+ performed well against the backdrop of the equity selloff. Both now offer attractive yields and compelling entry points to the recovery, markets are ready to return to fundamentals, and the theme of “spread” will likely continue, setting the stage for a more selective approach as supported by our latest portfolio: equity alpha<\/a><\/p>\n The first quarter was dominated by war in Iran. A historic energy shock has shaken global markets. As oil approached $120 a barrel, equities sold off around the world. Energy-dependent Asian markets such as Japan and Korea suffered double-digit declines, highlighting their dependence on energy flows through the Strait of Hormuz, the waterway largely responsible for…<\/p><\/div>\nmarket review<\/strong><\/h3>\n