Portfolio attribution is a critical tool for investment managers, enabling them to dissect and understand the sources of portfolio performance relative to a benchmark. By breaking down returns into allocation and selection effects, attribution… Continue reading Stock Level Extensions to Menchero’s Method for Portfolio Attributions
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Ferrari – make sure your investment manager buys you one…
Ferrari has been one of our strongest contributors in the hedge fund with the counter up 30% YTD in EUR terms and 50% over the past six months. One of the key reasons this… Continue reading Ferrari – make sure your investment manager buys you one…
A fragile macro-economic environment characterized by high interest rates
“When the tide goes out…….” Surprises. By definition, unexpected. Unforeseen. The first quarter of 2023 had more than its fair share of surprises. The equity rally that started in October last year, hit a… Continue reading A fragile macro-economic environment characterized by high interest rates
Loadshedding’s biggest impact: lower business confidence
As Differential Capital’s Quarterly Review for Q2 highlights, loadshedding has become a massive pain point for government, corporates and households alike. It is undoubtedly having an impact on overall economic output, but also… Continue reading Loadshedding’s biggest impact: lower business confidence
Food retailers offer refuge from inflation storm.
As Differential Capital’s quarterly review shows, the performance of retail sector stocks has been varied this year. As a whole, the sector, which includes food and clothing retailers, underperformed the benchmark. However, food retailers… Continue reading Food retailers offer refuge from inflation storm.