Ok, so in July global stocks were generally trending higher. I believe the MSCI world index might have been up a couple percent?
Now if VG1 did not bother hedging the currency, the more relevant benchmark for us might have risen by 4%?
Why VG1 are virtually the only global LIC ever that thinks they are smart enough to hedge currency at the right time I have no idea, I would like to hear an explanation for that. They have basically had this in place since inception when AUD/USD was circa 80 cents?
Anyway, back to their insightful commentary here.
The commentary for VG1 here touches on one of the larger weights in the portfolio and how it was a contributor to performance.
They also mention some of the shorts in the portfolio were also strong contributors. One of the larger shorts in the portfolio fell 24% in July, awesome!
Seems like everything they do they are nailing it, let's check the portfolio's July returns...
Negative 0.5%
VG1 Price at posting:
$1.84 Sentiment: Hold Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)