Which holdings may benefit from falling inflation?

Here are the holdings in your portfolio that historically tend to benefit when inflation falls. I list each one and the reason such assets usually gain in a lower-inflation environment.

Asset	Why it may benefit
Microsoft Corp.	Lower inflation often supports higher valuations for large, high-quality growth companies because discount rates fall and future earnings become more valuable.
Apple Inc.	Similar to other large-cap tech, reduced inflation can boost price-to-earnings multiples and support revenue growth visibility.
iShares Core MSCI World UCITS ETF	Broad global equity exposure often rises when inflation cools, as real returns improve and central banks ease monetary pressure.
MasterCard Inc.	Financial services and payments firms can benefit from stable inflation if consumer spending and credit conditions remain healthy.
Xtrackers MSCI USA UCITS ETF 1C	US equity exposure generally performs better with falling inflation because real yields fall and equity valuations expand.
SPDR MSCI USA Small Cap Value Weighted UCITS ETF	Smaller-value companies can rally if lower inflation improves economic predictability and reduces input-cost pressure.
MasterCard Inc.	Payment processors often gain from steadier consumer spending and lower discount rates on future profits.
iShares Core MSCI World UCITS ETF	Global developed-market equities typically benefit from lower inflation via lower rates and higher valuation multiples.

Notes:

• Crypto (Crypto), commodities and precious metals like Gold often do not benefit from falling inflation; they may fall or behave differently.
• These statements describe typical historical relationships, not guaranteed outcomes.