05/03/2022 –

• Geopolitical uncertainties are unlikely to disappear even with negotiations between Russia and Ukraine
• Meanwhile, global economic growth is slowing and historically high inflation is forcing the U.S. Federal Reserve (Fed) to adopt a more restrictive monetary policy
• We remain overweight Swiss equities in the global country mix as they are less cyclical
• In April, the Belvoir Global Allocation Fund was down 4.60% and is down 14.56% YTD, both figures in EUR

Read more about the Belvoir Global Allocation Fund in the current Monthly Update written by the fund manager Mauro Tempini.