08/31/2022 –

• Central banks reaffirm their fight against inflation. This has not been well-received by the markets
•  During the month of August, we again increased the equity exposure to 76.6% (previous month 68.2%)
• In August, the Belvoir Global Allocation Fund was down 3.28% and is down 19.03% year-to-date, both num-bers are for the EUR-shares

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