240531 Perf Report DKK INR NOK SEK
On the hunt for summer sun
Hi and welcome to the fifth monthly performance report for Two Crows Systematic long-only Week#2 equity portfolios. I’ve been on the road again, this time driving down towards southern Europe (which, mercifully, tugs at the wallet a little more gently than Iceland did), so this update will be brief.
The long drive from Finland through Central Europe got me wondering about the markets in other European countries/currencies so — time permitting — I will run some backtests over Polish and Czech markets and report on any interesting findings over the next weeks. Anecdotally, I have understood Poland in particular is home to several rapidly growing, highly profitable companies and improving economic strength, so I am curious what my Two Crows ranking system might find.
May 2024 Commentary
Nothing special to highlight this letter, as our portfolios continue to perform roughly as they have since inception:
The Danish portfolio is performing satisfactorily but April’s negative return still hurts the portfolio against its benchmark
Norwegian and Swedish portfolios are both double their benchmarks with YTD returns of around 20% each
The Indian portfolio continues to lag its benchmark TWRR, which in turn has returned less than the other indexes that I report and compare against.
More broadly, the Two Crows portfolios continue to hold up well against their peers, EUR and INR notwithstanding.
Week#2 Performance Tearsheets for May 31 2024
In addition to the performance figures stated above, PDF tearsheets for TCSI Week#2 DKK, INR, NOK and SEK Model Portfolios for the month of May 2024 and YTD follow:
DKK Portfolio & Benchmark:
INR Portfolio & Benchmark:
NOK Portfolio & Benchmark:
SEK Portfolio & Benchmark:
Thanks for reading, and more soon…