The price of one share of Compass Global Trends was 1.1769 at the end of July, remaining almost unchanged compared to the end of June. For comparison, in July the leading stock indexes in the US (69% of the fund's investments in shares are in the US) continued their growth since the beginning of the year in the opposite direction to the negative movement of the German DAX index (17% of the fund's investments in shares are in Europe) and emerging markets (12% of the fund's equity investments are in China and India).
The most significant growth of their shares during the month in the portfolio of Compass Global Trends was noted by the companies: Alphabet Inc (+ 14.81% in BGN), the most popular Internet search engine Google, Square Inc. (+ 13.14% in BGN), operating in the field of digital payments the Dutch company leader in the production of lithographic machines ASML Holding (+ 10.37% in BGN), the company producing iPhone Apple Inc (+ 9.85% in BGN) and the French gaming company Ubisoft Entertainment (+ 8.60% in BGN).
By the end of last month, more than 70% of the companies in the broad US S&P 500 index had already published their results for the second quarter of the year. Investors are positively surprised by corporate profits and revenues that are higher than forecastsed for the period. At the same time, strong economic data raises the question of whether the Fed will further cut interest rates. Along with the geopolitical risks affecting global trade relations, an increase in the volatility of financial markets is not ruled out. Given the strategy of Compass Global Trends for risk management, the fund's management is ready to limit short-term fluctuations in the value of the portfolio while not missing opportunities to initiate positions at attractive levels in companies with long-term growth potential.
If you would like to learn more about the presentation of MF Compass Global Trends in July, 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