Performance update | January 2016
A broad-based sell-off in global equity markets in January, saw the Funds down for the month. While OC’s portfolios have typically held up well in falling markets due to a heavy focus on risk management and an aversion to investing in speculative stocks, the January sell-off was broad based and a number of high-quality names were sold down on no news flow as most of the companies in the portfolios were in ‘black-out’ ahead of the February reporting season. We do, however, have to confess to a couple of “own goals” in the form of earnings downgrades from portfolio holdings and this dragged the performance of the Funds below their benchmarks for the month.
Over the long term, however, the Funds remain well ahead of their respective indices and have delivered investors strong returns.
View the January 2016 performance reports: