August recap

21 sep. 2022

Dear investors,

Global Equity markets ended august lower as hawkish central bankers together with data suggesting a cooling economy continued to shake investors confidence. While developed market equities ended the month about 3% lower, emerging markets were still slightly positive. All-in-all broad equity indices are down about 7% year-to-date as of the end of August, with little signs of improvement in September.

On the whole Vector Navigator had a very similar result as its benchmark index in August, ending the month 2.78% lower. Year-to-date the fund is down 2.66%, which compares favourably with its peers who are down 9.44% on average. The decision to increase the hedge within Vector Flexible - from about 45% in June to approximately 60% per end of August – has so far proved to be well timed. Flexible still shows a positive year-to-date return of 0.56%, beating 95% of its competitors by a wide margin of 10.04%.

Best regards,

Werner, Thierry & Nils