28 November 2022

ZADIG MANAGED ACCOUNTS 3Q22 REPORT

During the third quarter of 2022, the Zadig Managed Accounts Strategy (the “Portfolio”) returned -2.0% gross of fees. The MSCI EUROPE ex UK TR net (the “MSCI Europe ex UK”) returned –3.9% and the MSCI EUROPE TR net (the “MSCI Europe”) returned -4.1%.

  • During the third quarter of 2022, the Zadig Managed Accounts Strategy (the “Portfolio”) returned -2.0% gross of fees. The MSCI EUROPE ex UK TR net (the “MSCI Europe ex UK”) returned –3.9% and the MSCI EUROPE TR net (the “MSCI Europe”) returned -4.1%.
  • The Portfolio remains concentrated with 15 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 10.0x vs 11.3x for the MSCI EUROPE ex UK.
  • During the quarter, we initiated positions in…

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