Our portfolios have been impacted by two central themes as of late—currency and energy—although we continue to see mostly positive impacts from these developments. We are staying the course through the strong dollar movements; our core process is that we look at things on a constant-currency basis, so we generally do not try to forecast currency movements. We have moved out of names that are heavily exposed to currency risk and are reallocating to positions on the domestic side that essentially have 100% domestic exposure and excellent fundamental drivers.
In energy, we are maintaining a relative underweight for the foreseeable future until the commodity stabilizes. Domestically, we believe the stronger dollar and lower energy costs should benefit the consumer.