Please click here to read Shane Oliver's views on the implications for investors from the rising tensions in the Middle East and uncertainty around the timing of interest rate cuts.

Key point raised are:

• After strong gains, shares are vulnerable to a pull back or more volatile returns than seen so far this year.
• The key threats at present are Iran's attack on Israel which risks escalating the war in the Middle East, threatening oil supplies, and higher inflation delaying interest rate cuts.
• Ultimately, we see the trend remaining up for shares.
• The key for investors is to stick to an appropriate long term investment strategy.  Trying to time markets is hard.