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[Music] hi Alicia Persian Gulf runs performance in March was plus 0.9 percent and in April paths 1.3 percent bring it our year-to-date result two plus three point seven percent the biggest news flow from the Middle Eastern region during the last two months came from foots index provider that upgraded Saudi Arabia to its emerging market index and right now we're expecting a similar decision to be made by MSI index provider in the beginning of June and if we also get a positive decision from MSI in the beginning of June then that actually means that over the next 12 to 18 months we will have tens of billions of dollars flowing into the Saudi Arabian equity market and GCC will start to make up around five percent of the global emerging market index and and will start to play a very important role in the portfolios of emerging market investors in March we attended a conference a Middle Eastern conference in Dubai where we met with about 20 companies we met with six of our 10 bigges

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