January return comment
The month of January turned out to be another step towards the normalization that awaits our economies when there is sufficient immunity in place via vaccination and considerable parts of the population carrying antibodies after having recuperated from Covid-19 infections. During January there was a selloff in longer duration bonds, pointing towards market expectations of a successful reflation in the Western economies, a resumption of growth towards trend and for inflation to return to levels around +2 percent.
The market developments during January came close to the expectations that guided us going into the new year. Total return for the month was 1,31 percent. The fixed income strategies utilized in the fund has delivered 13,10 percent as a rolling 12 month return and the result of the fund since inception is 149,94 percent. Looking further into 2021, market conditions continues to look favorable.
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