In an era of elevated sovereign debt, persistent geopolitical tensions, and volatile financial markets, GERAF was established to deliver investors concentrated exposure to high-quality real assets across Precious Metals, Energy, and Industrial Metals. By focusing on listed companies with global operations, disciplined valuation frameworks, and built-in liquidity, the strategy aims to generate reasonable long-term returns with a meaningful margin of safety — even as traditiona

The Iranian conflict has triggered the effective closure of the Strait of Hormuz, removing 10-15% of global oil supply and disrupting LNG, fertilisers, aluminium and other critical commodities. This initial insights article reviews the scale of the shock, historical parallels from the 1970s oil crises, current market pricing, global strategic reserves, regional winners and losers, Australia’s particular vulnerabilities, and how the GERAF strategy has positioned to navigate th