The price of one share of Compass Euroselect was 0.8714 EUR at the end of February, which is an increase of 4.55% since the beginning of the year and a slight decrease of -0.26% compared to the end of January. Over the past month, European stock indexes continued their upward movement compared to the beginning of the year. The biggest rise for the month was reported by the French index CAC 40 with 4.96% growth, followed by the broader European index Euro Stoxx with 4.01% and the German DAX with 3.07%.

In the portfolio of MF Compass Euroselect the most significant increase during the month was noted by: the shares of the German-based software company Nemetschek (+ 14.75% in EUR), the French insurance company AXA SA (+ 10.13% in EUR), Kering (+ 9.74% in EUR), operating in the field of luxury goods, the world leader in the production of dental implants Straumann (+ 8.83% in EUR) and one of the world's major manufacturers of fragrances and flavors for food and cosmetics Symrise AG (+ 6.72% in EUR).

The partial recovery in European stocks that we have seen since the beginning of the year reflects the improvement in investor sentiment after the news of trade relations between the United States and China. At the same time, the uncertainty facing investors remains high given the geopolitical risks in a number of European countries and the slowdown in the economy of the Eurozone. 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. Despite the current volatile environment, the fundamental characteristics and competitive advantages of the companies selected in the portfolio of MF Compass Euroselect provide a reason for them to continue their growth in the long run.

With respect,

The Compass Invest JSC team