I always say that I am not a fan of All World because it has a lot of trash in it. And indeed, personally I only hold US and CH, and it’s the latter that’s really saving me. So thank God for that. I suppose Euro Stoxx also performed well, but point remains, VT has a lot of crap in it and when US does poorly so does VT. For Swiss, home bias is a decent thing. Lest not forget our currency tends to go up and up over time.