The price of one of the share of MF Compass Global Trends was 1.0672 BGN at the end of December, which is a decrease of -5.80% for the month and -4.48% for 2018. In comparison, the leading stock indexes ended the year with significant declines in all geographical regions. In addition to the raising interest rates in USA, uncertainty among investors has caused problems in the European economy, weaker growth in China and ongoing geopolitical concerns over Brexit, the Italian budget and the US-China trade war.

Amid more risks to the global economy than usual, the reporting season for the companies in the portfolio of MF Compass Global Trends begins in mid-January. The results of the upcoming key events create the possibility of both negative and positive surprises. While 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 Global Trends are mainly invested in shares), determines the longer-term investment horizon. Given the fundamental characteristics and competitive advantages of the companies selected in the portfolio of MF Compass Global Trends, 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 Global Trends 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