Renewed violence in the Middle East, including American claims to have destroyed five Iranian tankers, pushed the oil price to peak at $104 per barrel this week. That’s bad news for the global economy and stock markets. No wonder Japanese shares fell by 2% on Friday, albeit with America and Britain maintaining marginal gains.

But the ‘forever fund’ benefited substantially from its diversified portfolio, with my biggest holding seeing its share price surge 3.5% higher in a day (it’s been a ten-bagger for years now) on long-awaited new products. Meanwhile, a high-flying tiddler announced a £202m uplift, doubling the value of its biggest holding, which is expected to add more than a third to this investment trust’s net asset value (NAV) when  that is updated at the end of this month.