Market disruption accelerating post COVID-19

From
Nick Griffin

Nick Griffin

Munro Partners has released the latest Munro Global Growth Fund report and market commentary.

In it, Chief Investment Officer, Nick Griffin, says:  “With a reasonable equity risk premium relative to bonds still available, the backdrop for equities continues to be positive. However, as always, we remain watchful for any events that may derail this outlook.

“We see a slow economic recovery ahead and expect the central banks to keep interest rates lower for longer.

“The market continues to reward structural growth companies that can grow regardless of the weak macroeconomic backdrop.

“Several high-profile US companies reported during August confirming that disruption continues to accelerate in a post COVID-19 world.

“These inputs provided a positive read across many of the Fund’s holdings including e-commerce giants, Alibaba and Amazon, as well as Facebook, Microsoft and Nvidia.”

The Munro Global Growth Fund returned 4.7% over the month of August. The Fund’s long positions added 7.4% while shorts and hedging detracted 1.0%. The Australian Dollar again appreciated 3.0% against the US dollar, which cost a further 1.7% due to the Fund’s holding in USD.

Read the report.

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