In October the stock markets had their best month in 4 years. The STOXX600 YTD return increased from 1.6% to 9.5%, adding a staggering 790 basis points. During the same period, our portfolio added 800 basis points, going from 23.6% to 31.6% YTD TWR. YTD alpha increased from 22% to 22.1%. Another fantastic result. The portfolio is also less exposed compared to last month with around 25 positions and only 2 positions (MGI Coutier & Harvey Nash) close to 10% of the overall value of the portfolio.
The stocks that contributed most to this good result were:
- MGI Coutier (+15.8%) said it will exceed previous guidances with FY 2015 revenue much above €800m. It also confirmed that it expects to reach €1bn revenue by 2018.
- Agfa Gevaert (+21.4%) continued its momentum after publishing a good Q2 report. A significant share of the company’s income is earned in US dollars and the continued drop in value of the Euro is expected to have a positive impact on its 2015 FY earnings.
- Burelle (+21.8%) reported Q3 revenue of €1.42bn versus €1.25bn one year ago, an increase of 13.1%.
None of the stocks showed a decline worth mentioning.
This month we add 2 companies to the portfolio: a German company that helps you unlock your creativity during meetings and a US food producer. Monthly subscriptions are available for only €19/month or €209/year. Subscribe to the screener and get the newsletter for only €10/month or €100/year extra!