Novità

As markets are still expecting a de escalation in the Persian Gulf, will we see a significant decline in long term interest rates? The answer is complex and will depend on a subtle interplay of global and domestic dynamics.

Despite the Iranian crisis and soaring oil prices, equity markets have once again hit record highs. Does this resilience reflect a realistic outlook or a dangerous complacency?

Uncertain negotiations between the Americans and the Iranians are accompanied by a blockade of the Strait of Hormuz. The likely date of reopening is therefore moving a little further away. In the meantime, energy prices remain under pressure as stocks run down.

As indicated in an initial communication to unit-holders dated 1 April 2026, Dorval Asset Management has decided to supplement the redemption-capping mechanism (“gates”) already in place in the funds listed above by introducing a net asset value adjustment mechanism (“swing pricing”).
This “swing pricing” mechanism will be introduced for all the mutual funds (“FCPs”) mentioned above with effect from 20 April 2026.

Directive (EU) 2024/927 of the European Parliament and of the Council of 13 March 2024, which amends the AIFM and UCITS directives, provides for the widespread deployment of two liquidity management tools in most European UCITS and AIFs.
The purpose of this text is to improve and harmonise the use of these tools within the European Union and thus enable better protection of investors in the event of a crisis or tensions on the markets.