October lives up to its reputation!

October more than lived up to its reputation as a bad stock market month this year, and the negative trend of the previous months intensified once again. The terrorist attack by Hamas on Israel caused commodity prices to rise somewhat in the short term, but fears of a possible conflagration in the region are keeping investors cautious. At the same time, interest rates on 10-year US government bonds briefly rose above the psychologically important 5% mark on the back of positive economic figures, reaching their highest level since the financial crisis in 2008. This geopolitical uncertainty and the sharp rise in interest rates led to declines in all sectors. The reporting season that started brought light and shade and failed to reassure investors.

Our fund is also trending slightly negative at the end of the month. Even though our portfolio could not escape the downward trend for the time being, we are convinced that the quality of the companies in which we are invested will prevail.