The Mosaic Global Fund’s estimated performance for the month of November is 1.10%, which brings the estimated year to date return to 0.65%.
December was a quite month in most markets. The Federal Reserve is planning to reduce its asset purchase program from the previous level of $85 billion per month to $75 billion. Simultaneously, Ben Bernanke is opening up for further accommodative interest rate levels to make sure that the United States continues on its path towards further growth and reduced unemployment. The reaction in markets towards this message was initially negative, but after evaluating a bit further, markets decided that a world with continued ultra-low interest rates would indeed be a good thing for stocks. This helped stock markets rise to new all-time highs during the last trading days of the year.
The portfolio’s stock market holdings performed well, together with hedge funds which helped performance. Trend Followers have been in a positive period as of late, with help from strong stock markets and trending currencies, they continued with a strong December and turned out to be the strongest contributors to the month’s performance.
Looking ahead, as cautious as we might be to current stock market valuations, especially in the US, we see no current reason for stock markets to tumble in the near term. Gold is looking as it is beginning to show some strength, which will be interesting to follow in the coming months.
Have you had a chance to speak with us about our new Trend and Momentum Filters yet? If not, please drop us an email on, firstname.lastname@example.org, or give us a call on, +352 202 033 27, to find out more. We look forward to speaking with you shortly.
To Your Investment Success!
Per-Olov Jansson & the Cardea Investment Team