04/30/2023 –

• Reporting season dominates market movement
• Stocks hit new highs in USA and Europe
• Inflation falls gradually
• Sell in May and go away?
• Belvoir Global Allocation II Universal records a gain of 1.4% in April, +8.4% YTD

At the end of April, the fund’s equity ratio is 70% before hedging and 50% net after hedging. Bonds are weighted at 16% and cash at 13%.

Read more about the Belvoir Global Allocation II Universal Fund in the Monthly Update, written by the fund manager Steffen Bauke.