03/02/2022 –

• The war in Ukraine is shaping market activities. However, the downward slide on the markets remains for the time being.
• Reduction of equity exposure to 77.9% and 100% hedging of EUR positions in the CHF share class.
• Bond ratio was slightly increased to 7.6%. Liquidity is at 14.5%.
• In February, the Belvoir Global Allocation Fund was down 4.43% in EUR and is down 11.73% YTD.
• In February, the CHF also corrected by 4.18% and is down 11.14% since the beginning of the year.

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