Under the Bonnet
A monthly portfolio update from the JOHCM UK Dynamic team on the strategic progress made by their portfolio companies.
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Alex Savvides
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Tom Matthews
- Economic activity generally remained buoyant in October, driven in particular by continuing strength in the service sector as economies continue to open up and bounce back from Covid-19 lockdowns.
- Underperformance in October was mostly driven by idiosyncratic (and we feel shorter-term) share price movements relating to two stocks in particular, but was also not helped by shorter-term macro and factor movements.
- Nevertheless we are extremely confident of further positive strategic and financial delivery from our portfolio companies and, with it, a bounce back in fund performance.
Disclaimer
For professional investors only. This is a marketing communication. Past performance is no guarantee of future performance. The value of investments and the income from them may go down as well as up and you may not get back your original investment. The information contained herein including any expression of opinion is for information purposes only and is given on the understanding that it is not a recommendation. The Fund’s investment include shares in small-cap companies and these tend to be traded less frequently and in lower volumes than larger companies making them potentially less liquid and more volatile. Information on the rights of investors can be found here.
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