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Monthly Update: October 2017

14 November 2017
​Another good month for our long-only global equity fund: an outperformance of +0.8% vs its benchmark MSCI World Index. This takes our outperformance for 2017 to +2.8%. Relative performance was strong in all regions, with only our overweight position in Europe dampening performance. The Balance fund aims to transform this outperformance into an absolute return and did just that, gaining +1.1% in October. This month we gained a bit more than the registered outperformance thanks to the specific...

Monthly Update: September 2017

10 October 2017
September was an exceptional month for our long-only global equity fund: an outperformance of +0.8% vs its benchmark MSCI World Index. This takes our outperformance for 2017 to +1.9%. The Balance fund aims to transform this outperformance into an absolute return and did so only partially, gaining +0.4% in September. The reason lies in the specifics of our equity market hedge. We hedge against the Eurostoxx 50 and the S&P 500, because the superior liquidity of these contracts far outweighs the i...

Monthly Update: August 2017

13 September 2017
Dear Investors, Geopolitical news dominated headlines in August, obscuring positive economic releases that reflect the continuing synchronized global expansion. According to a recent article in the Wall Street Journal, 45 countries tracked by the OECD are all expecting positive growth this year, with 33 economies poised to accelerate from a year ago. That's the most countries in acceleration mode since 2010 and how the central banks react to this acceleration will be one of t...