Q4 Strategic Opportunities Fund Commentary
Despite some political and economic uncertainties in many developed economies, 2024 was marked by relative stability. Political transitions in Taiwan, France, the UK, and Japan, as well as a significant shift in the US political landscape with a Republican resurgence, occurred in a calm and orderly manner. Even the brief imposition of martial law in […]
Q3 Strategic Opportunities Fund Commentary
3Q2024 was dramatic. We started 3Q 2024 with a rigorous debate about the potential of recession after Sahm’s rule was triggered. The Fed later cut 50 bps then across the pacific the PBOC followed suit with its own stimulus plans. Though we are not a macro driven fund, we could not help but to realize […]
Q2 Strategic Opportunities Fund Commentary
Macroeconomic forecasting is a humbling job. We started the year with an expectation of at least 4 rate cuts from the Fed but by the middle of the second quarter, that expectation was significantly reduced to just 2 cuts (even 1 cut to some forecasters). Coming to the end of June, the consensus trended towards […]
Q1 Strategic Opportunities Fund Commentary
Financial markets started the year on a note of optimism, buoyed by expectations of at least 4 rate cuts and the confidence that the US economy would be able to avoid a recession. The tailwind from this benign narrative, increasingly became a headwind and source of volatility as the tenacity of inflation and the resilience […]
