06/30/2023 –

• FOMO on the stock market – Fear of Missing Out
• 10% of stocks make 90% of the performance in the 1st half of the year
• Interest rates continue to rise
• Soft Landing in the USA – Recession in Europe
• Belvoir Global Allocation II Universal Fund up 1.5% in June, +8.6% YTD

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