Category Archives: Performance Review

Performance review 6M 2019 – Comment: “Not enough Tech ?”

In the first 6 months of 2019, the Value & Opportunity portfolio gained 12,4% (including dividends, no taxes) against 17.7% for the Benchmark (Eurostoxx50 (Perf.Ind) (25%), Eurostoxx small 200 (25%), DAX (30%), MDAX (20%)).

Links to previous Performance reviews can be found on the Performance Page of the blog.

Some other funds that I follow have performed as follows for 6M 2019:

Partners Fund TGV: 6,8%
Profitlich/Schmidlin: +9,2%
Squad European Convictions +11,2%
Ennismore European Smaller Cos +6.09% (in EUR)
Frankfurter Aktienfonds für Stiftungen -0,5%
Evermore Global Value  +13,42% (USD)
Greiff Special Situation +2,6%
Squad Aguja Special Situation +8,5%

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Performance review Q1 2019

In the first Quarter 2019, the Value & Opportunity portfolio gained 8,3% (including dividends, no taxes) against 11.9% for the Benchmark (Eurostoxx50 (Perf.Ind) (25%), Eurostoxx small 200 (25%), DAX (30%), MDAX (20%)).

Links to previous Performance reviews can be found on the Performance Page of the blog.

Some other funds that I follow have performed as follows in Q1 2019:

Partners Fund TGV: 10.63% *

Profitlich/Schmidlin: +8,45%
Squad European Convictions +6,44%
Ennismore European Smaller Cos +6.09% (in EUR)
Frankfurter Aktienfonds für Stiftungen +0,37%
Evermore Global Value  +6,54% (USD)
Greiff Special Situation +2,56%
Squad Aguja Special Situation +6,56%

*Since inception (01.01.2011), this translates into +173,2% vs. 86,4%  for the Benchmark.

Q1 2019 transactions

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2018 Performance review – Outlook 2019

In 2018, the Value & Opportunity portfolio lost -11,3%* (including dividends, no taxes) against –15.4 % for the Benchmark (Eurostoxx50 (Perf.Ind) (25%), Eurostoxx small 200 (25%), DAX (30%), MDAX (20%)).

Links to previous Performance reviews can be found on the Performance Page of the blog.

Some other funds that I follow have performed as follows in 2018:

Partners Fund TGV: +1,74% *
Profitlich/Schmidlin: -8,27%
Squad European Convictions -9,75%
Ennismore European Smaller Cos +2,65% (in EUR)
Frankfurter Aktienfonds für Stiftungen -13,72%
Evermore Global Value  -20.92% (USD)
Greiff Special Situation -7,02%
Squad Aguja Special Situation -11,7%

*TGV Partners as of 15.12.2018, to be updated

Since inception (01.01.2011), this translates into +152,6% or +14,0% p.a. vs. 66,6% or 6,0% p.a. for the Benchmark.

Current portfolio / Portfolio transactions

The current portfolio can be seen as always on the portfolio page. I have already mentioned the 2018 transactions in the “My 22+1 stocks for 2019” post.

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Performance review 9M 2018 – Comment “Anti Buffett or Beyond Buffett ?”

Performance 9M 2018:

In the first 6 months of 2018, the Value & Opportunity portfolio gained +3,38% (including dividends, no taxes) against -2,2% for the Benchmark (Eurostoxx50 (Perf.Ind) (25%), Eurostoxx small 200 (25%), DAX (30%), MDAX (20%)).

Some other funds that I follow have performed as follows in Q1 2018:

Partners Fund TGV: +6,95%
Profitlich/Schmidlin: -0,21%
Squad European Convictions +1,97%
Ennismore European Smaller Cos +2,16% (in EUR)
Frankfurter Aktienfonds für Stiftungen -4,42%
Evermore Global Value -1,59% (in USD)
Greiff Special Situation -1.91%
Squad Aguja Special Situation -3,86%
Paladin One +1,5%

Performance attribution:

The top 3 performers on a weighted basis were for 9M 2018 were:

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Performance review 6M 2018 – Comment: “Skate to where the puck is going”

-Performance 6M 2018:

In the first 6 months of 2018, the Value & Opportunity portfolio gained +1,45% (including dividends, no taxes) against -2,88% for the Benchmark (Eurostoxx50 (Perf.Ind) (25%), Eurostoxx small 200 (25%), DAX (30%), MDAX (20%)).

Some other funds that I follow have performed as follows in Q1 2018:

Partners Fund TGV: +4.68%  
Profitlich/Schmidlin: -1,67%
Squad European Convictions +2,22%
Ennismore European Smaller Cos +1,72% (in EUR)
Frankfurter Aktienfonds für Stiftungen -0,54%
Evermore Global Value -0,39%
Greiff Special Situation -0.92%
Squad Aguja Special Situation -5,45%
Paladin One +1,8%

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Performance review Q1 2018

Performance Q1 2018:

In Q1 2018, the Value & Opportunity portfolio lost -1,38% (including dividends, no taxes) against -3,90% for the Benchmark (Eurostoxx50 (Perf.Ind) (25%), Eurostoxx small 200 (25%), DAX (30%), MDAX (20%)).

Some other funds that I follow have performed as follows in Q1 2018:

Partners Fund TGV: -10,79% 
Profitlich/Schmidlin: -4,45%
Squad European Convictions +0,19%
Ennismore European Smaller Cos -1,40% (in EUR)
Frankfurter Aktienfonds für Stiftungen -0,47%
Evermore Global Value -3,03%
Greiff Special Situation +0,65%
Squad Aguja Special Situation -5,38%
Paladin One +0,57%

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Performance review 2017 – Comment: “Keep an Eye on Interest Rates and Credit Spreads”

Performance 2017:

In 2017, the Value & Opportunity portfolio gained +21,7%* (including dividends, no taxes) against 15.6 % for the Benchmark (Eurostoxx50 (Perf.Ind) (25%), Eurostoxx small 200 (25%), DAX (30%), MDAX (20%)).

Some other funds that I follow have performed as follows in 2017:

Partners Fund TGV: +19,97% 
Profitlich/Schmidlin: +8,07%
Squad European Convictions +29.72%
Ennismore European Smaller Cos +9,32% (in EUR)
Frankfurter Aktienfonds für Stiftungen +13,7%%
Evermore Global Value +4.6%
Greiff Special Situation +11,1%
Squad Aguja Special Situation +14,2%

Since inception (01.01.2011), this translates into +186,7% or +16,2% p.a. vs. 95,3% or 10,1% p.a. for the benchmark. Graphically this looks like this:

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