01/31/2023 –

• Contrary to the expectations of many market participants, January showed distinctly positive market developments.
• Targeted adjustments were made to the fund to generate alpha.
• The Belvoir Global Allocation II Universal Fund recorded a rise of 5.4% in January.

At the end of January, the fund’s equity ratio was around 62.2% net, after hedging.

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