Ann: FUM as at 31 December 2021, page-25

Looks like we're having a correction in global markets, now S&P500 has broken 4500, more downside seems probable.
How do GQG funds perform in down markets is one question I had.

Here is statistics for GQG emerging fund

Note downside capture is 36.77%. This is far better than magellan's 55% and they're the 'downside protection' manager at least that's what their marketing department shouts. GQG global is around 65% downside capture. Meaning if the market were to fall 20%, GQG global would be down ~13% at least historically.


We're currently seeing a divergence in the peer group (Black) and GQG (Gold) which supports the risk statistics.


Here is top ten holdings and sector positioning, overweight energy has added a lot of value in the past few weeks. Shows how GQG adapt to the situation; into Walmart, procter and gamble in the top 10 as of 31 dec. Nvidia out of top 10.

Cheers,
Plague.