It is never wise to do a big bang diversification away from existing holdings, but it may be worth exploring some exposure to some of the above investments to hedge against the potential ravages of inflation, particularly as it looks like we will be in this high-inflationary cycle for at least one more year before it starts to move down towards the lower rates we all got used to for many years pre-pandemic.

As always, the role of investment adviser is important before moving forward. One thing is certain, demand for investment advice was never higher than it is in these volatile, high-inflationary times. 

Adrian Boulding is director of retirement strategy at Dunstan Thomas