- During the first quarter of 2023, the Memnon European Equity Strategy (the “Portfolio”) returned 15.0% gross of fees. The MSCI EUROPE ex UK TR net (the “MSCI Europe ex UK”) returned 9.9% and the MSCI EUROPE TR net (the “MSCI Europe”) returned 8.6%.
- The Portfolio remains concentrated with 21 holdings. It is well balanced across cyclical, defensive and growth names and is exposed to various companies which we think offer attractive risk return profiles. The Portfolio’s 12 month forward P/E ratio is currently 11.7x vs 13.6x for the MSCI EUROPE ex UK.
- During the quarter, we initiated positions in…
Read the MEMNON EUROPEAN 1Q23 REPORT
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