13 Jan Munro Concentrated Global Growth Fund Monthly Report – December 2019
The Munro Concentrated Global Growth Fund (MCGGF) returned -1.2% (2.2% from equities and -3.4% from currency) while the MSCI World (Ex-Aus) returned -0.9% (2.7% from equities and -3.5% from currency).
Equity markets globally were higher over the month as the US-China phase one trade deal was finally agreed and the UK election resulted in a resounding win to Boris Johnson’s Conservative Party. From a stock attribution perspective, positive contributions came from Alibaba and sports apparel maker, Nike. Elsewhere, High Performance Computing names ASML in semiconductor lithography and TSMC in semiconductor foundry were also strong.
For previous monthly reports or more information on the Fund, please fund reports.