It will come as a surprise to no one that the lead-up to the Russian invasion of Ukraine and now the actuality of it, begun on the 24th of February, has increased market volatility. As a result, your Board of Managers (BOM) and the Investment Advisory Board (IAB) met the following morning the 25th, to assess the impact on the markets in general and the Easton Episcopal Funds in particular. We will continue to meet weekly and to watch closely, making any changes to the allocations that are deemed prudent, as we go forward in prayer and attention.