The price per one of share of MF Compass Euroselect was 0.8335 EUR at the end of December. The leading stock indexes ended the year with significant declines in all geographical regions. In addition to the rising interest rates in the US, uncertainty among investors has caused problems in the European economy, weaker growth in China amid continuing geopolitical concerns over Brexit, the Italian budget and the US-China trade war.

Amid more risks for the global economy than usual, in mid-January the reporting season for the companies in the portfolio of MF Compass Euroselect began. The results of the upcoming key events create the possibility of both negative and positive surprises. Although macroeconomic indicators do not give grounds for a change in the fundamental strategy of investors, negative developments can also be seen as favorable opportunities for initiating positions at attractive levels.

The higher risk, typical for investments in shares (the assets of MF Compass Euroselect are mainly invested in shares), determines the long-term investment horizon. Given the fundamental characteristics and competitive advantages of the companies selected in the portfolio of MF Compass Euroselect, the fund's management expects them to continue their growth in the long run.

If you would like to learn more about the presentation of MF Compass Euroselect in December, as well as get more information about the development of the global financial markets and management expectations, please click HERE to view the full newsletter in a PDF format.

With respect,

The Compass Invest JSC team