Remaining almost unchanged over the past month, the price of one share of MF Compass Global Trends ended the month with a value of 1,1552 BGN. In September, the leading stock indexes rose in both the United States and Europe. Financial market optimism has returned due to the improvement in the tone of the US-China discussions amid supportive monetary policy from the central banks. There was also volatility caused by geopolitical tensions in Saudi Arabia, the United Kingdom and Europe.
The most significant growth last month was recorded by: sports goods manufacturer Nike Inc (+ 12.65% in BGN), the Dutch company leader in the production of lithographic machines ASML Holding (+ 12.36% in BGN), the Indian bank ICICI Bank (+ 9.92% in BGN), Fever Tree (+ 9.62% in BGN), the manufacturer of DNA sequencing systems Illumina Inc (+ 9.59% in BGN).
Given the macroeconomic data, central banks are expected to continue their supportive monetary policy. At the same time, geopolitical risks do not appear to be diminishing. An important one is coming in October. An additional postponement of Brexit is possible if no deal is reached by October 19th. In the middle of the month the reporting season for the companies in the portfolio of MF Compass Global Trends started. Key for investors will be the guidelines of the companies for 2020. In conditions of increased uncertainty, the management of MF Compass Global Trends limits its exposure to equities, following the long-term strategy of the fund to invest in companies with growth potential.
If you would like to learn more about the presentation of MF Compass Global Trends in September, as well as get more information about the development of global financial markets and management expectations, please click HERE to view the full newsletter in a PDF format.
With respect,
Compass Invest JSC team