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We take the time to listen to you to truly un1€derstand your™ goals. We aim to create investmen2t solutions based on your needs, not on our own products. Pictet is a leading independent European© investment firm offering more than 200 years of global investment management with® offices in Geneva, Lausanne, Zurich.

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Topic 001

Service page hub module

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CountryHello world YearRankTotalC1: Security ApparatusC2: Factionalized ElitesC3: Group GrievanceE1: EconomyE2: Economic InequalityE3: Human Flight and Brain DrainP1: State LegitimacyP2: Public ServicesP3: Human RightsS1: Demographic PressuresS2: Refugees and IDPsX1: External InterventionChange from Previous Year
Yemen20201st112,49,710,09,79,47,87,09,99,510,09,89,710,0-1,1
Somalia20202nd110,99,810,08,69,19,48,98,99,19,010,09,19,0-1,3
South Sudan20203rd110,89,49,79,19,59,26,89,99,59,09,59,79,5-1,4
Syria20204th110,79,99,910,08,77,28,410,09,110,07,610,010,0-0,9
Congo Democratic Republic20205th109,48,59,89,78,08,66,99,79,59,59,810,09,4-0,8
Central African Republic20206th107,58,39,78,08,49,96,88,910,09,28,810,09,5-1,4
Chad20207th106,49,29,58,38,58,98,49,39,48,59,69,27,7-2,1
Sudan20208th104,88,49,49,48,18,08,09,38,38,99,19,38,6-3,1
Afghanistan20209th102,99,98,97,58,37,77,59,09,57,69,09,38,6-2,1
Zimbabwe202010th99,28,510,06,48,67,67,09,18,78,39,38,57,2-0,3
Burundi202011th97,98,37,97,68,57,35,99,17,99,19,28,58,5-0,2
Cameroon202011th97,98,29,38,66,87,77,68,98,37,88,88,67,30,9
Haiti202013th97,76,99,65,68,59,18,19,19,36,98,27,19,3-1,6
Nigeria202014th97,38,79,99,17,97,86,68,18,98,49,36,95,7-1,3
Guinea202015th97,28,39,69,28,37,06,89,99,26,88,37,36,5-2,2
Mali202016th96,09,55,78,47,37,08,07,08,87,78,68,49,61,4
Iraq202017th95,98,29,68,55,66,46,89,18,47,88,18,68,8-3,2
Eritrea202018th95,86,58,18,07,48,68,89,47,58,78,27,77,0-0,6
Niger202019th95,38,88,97,86,87,77,37,09,26,98,78,47,8-1,0
Libya202020th95,29,59,77,88,05,35,79,86,99,45,38,09,83,1
Ethiopia202021st94,67,98,99,06,16,26,38,58,37,99,18,87,60,4
Myanmar202022nd94,08,88,09,85,07,06,88,08,49,46,39,17,4-0,3
Guinea Bissau202023rd92,98,09,64,67,49,47,28,68,66,98,46,47,7-2,5
Uganda202024th92,87,28,98,06,06,87,08,37,37,79,28,87,6-2,5
Pakistan202025th92,18,29,09,17,15,66,57,67,77,17,97,88,5-2,1
Congo Republic202025th92,17,36,78,17,88,47,19,18,68,18,06,76,2-0,4
Mozambique202027th91,76,87,15,38,39,57,47,39,45,39,87,67,93,1
Venezuela202028th91,27,29,27,38,76,66,49,38,49,06,56,66,01,9
Kenya202029th90,37,78,68,36,57,36,97,97,76,58,37,47,2-3,3
North Korea202030th90,28,38,55,58,67,24,19,98,39,46,84,19,5-2,5
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— John Doe

Topic number 2

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Montreal New York Nassau Madrid Lisbon Hong Kong Shanghai Taipei Singapore Frankfurt Turin Geneva Paris Luxembourg London Brussels Osaka Basel Barcelona Monaco Rome Verona Milan Lausanne Zurich Munich Amsterdam Stuttgart Tel Aviw Dubai Tokyo

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macedonia

Asia Pacific

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Middle East

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Fund Name		Asset ClassAUM (USD mm)YTD Return (%)Expense Ratio (%)
Vanguard Total MarketEquity1250,48,320,03
BlackRock Bond IndexFixed Income780,13,150,05
Fidelity Growth FundEquity540,711,470,75
PIMCO Income FundFixed Income430,22,890,55
iShares Real Estate ETFReal Estate210,55,60,08
Invesco Commodity FundCommodities165,3-1,220,62
T. Rowe Blue Chip GrowthEquity89514,10,69
Schwab International Eq.Equity320,86,750,06
JPMorgan Balanced FundMixed455,64,90,45
Goldman Multi-AssetMixed2757,340,8

The Test001we use Large Language Models – at work or at home – the more potentially sensitive data we release out into the world, putting the onus on keeping that information safe. At the same time, agentic AI is paving the way for ever more sophisticated cyberattacks. Generic phishing emails with poor spelling are easy to spot. But an authentic-looking message from Human Resources or a realistic voice note can deceive even the most vigilant among us. Machines hacking machines are an emerging area of concern in data protection. All this presents a big challenge for the cyber security industry – but also a big opportunity for security companies that can harness AI’s power to protect organisations and consumers. There is a hacker infiltration every 39 seconds, and millions of records are stolen through breaches everyday.https://deepstrike.io/blog/how-many-cyberattacks-happen-every-dayIt’s not surprising, therefore, that global spending on cyber security is forecast to grow by nearly 14% a year, according to Gartner. The challenge is to develop machines and software that can defend us from other machines.

   
   

Scenario

 

Summary of market impact

Impact vectors

Medium-term implications

Closest historical template

Time horizon

Oil Brent, USD/bbl

Gold, 
%

USD, %

US 10-yr yield, bps

Global equities,
%

Current:
Senior Iranian leadership eliminated, Iran retaliation vs. Israel and Gulf states has  limited success

 

  • Initial inflation shock,  followed by global derisking of portfolios
  • Oil supply and European gas prices surge

 

 

 

Price action so far*:

 

+17

0%

+1%

+5bps

-2%

 

 

 

 

 

 

Forecast price action from pre-attack levels:

Managed regime   change in Iran

Initially a pronounced spike in market volatility, but calm restored soon after

  • Sentiment negative at first, turning mildly positive
  • Oil supply largely intact; transient elevation of risk premium
  • Currency diversification
    impulse reinforced post-event
  • Operation "Iraqi Freedom", 2003

~2-4 weeks

+10

+5%

+2%

0

-5%

Serious regional escalation

Significant global sentiment shock, pronounced sell off in equity markets

World recession avoided

  • Sentiment very negative
  • Oil supply reduced 
  • Trade supply - modest supply shock with Strait of Hormuz closed temporarily
  • Demand - mild shock, with European industrial production impacted
  • Currency diversification
    impulse accelerates
  • Regionalisation of investment flows impacts relative valuations
  • Yom Kippur War, 1973
  • Gulf War, pre-"Desert Storm", 1990

~1-2 months

+30

+20%

+5%

-15

-10%

Multi-theatre global conflict

Much of the world shifts to a war footing

Severe impact on financial markets

  • Sentiment extremely negative
  • Oil supply shock
  • Trade -extreme supply shock especially in semis
  • Demand - modest overall impact, followed by significant shift in composition
  • Global recession

 

~6-12
months

+70

+100%

+20%

-200

-50%

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Style and status are hallmarks of high-end brands

The Testnew componentwe use Large Language Models – at work or at home – the more potentially sensitive data we release out into the world, putting the onus on keeping that information safe. At the same time, agentic AI is paving the way for ever more sophisticated cyberattacks. Generic phishing emails with poor spelling are easy to spot. But an authentic-looking message from Human Resources or a realistic voice note can deceive even the most vigilant among us. Machines hacking machines are an emerging area of concern in data protection. All this presents a big challenge for the cyber security industry – but also a big opportunity for security companies that can harness AI’s power to protect organisations and consumers. There is a hacker infiltration every 39 seconds, and millions of records are stolen through breaches everyday.https://deepstrike.io/blog/how-many-cyberattacks-happen-every-dayIt’s not surprising, therefore, that global spending on cyber security is forecast to grow by nearly 14% a year, according to Gartner. The challenge is to develop machines and software that can defend us from other machines.

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Style and status are hallmarks of high-end brands

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