10/31/2022 –

• Once again a positive month of October, after eight of the last months closed in negative figures.
• The European Central Bank (ECB) and the FED continue to focus on fighting inflation.
• Eurozone equities therefore remain underweighted compared to Swiss equities and US equities. We remain cautious, but see a bottom forming.

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