In Q1 2023, the market experienced significant rare events, including the failure of Silicon Valley Bank and other regional banks in the US, as well as the forced merger of Credit Suisse and UBS. Despite the speed and rarity of these events, financial markets remained relatively calm, helped by the regulators’ prompt and forceful response and the markets’ confidence it instilled.

Our portfolio performed well in Q1 2023, with a return of 20.43%. Nvidia was a key driver of our performance. We have long recognized the strength of this company and increased our position during market volatility last year. We also added positions in Tesla, AMD, Alphabet, and Amazon, as we believe that well-positioned technology companies will continue to outgrow others in the long term.

The arrival of Chat-GPT shone the spotlight on the prowess of Artificial Intelligence and provided a glimpse of how pervasive and disruptive this technology potentially can be. We believe that with these advances in Artificial intelligence, we are on the cusp of major technological breakthroughs that will translate into faster drug discoveries, robotics, autonomous driving, and ultimately a higher quality of life for all mankind.

We are truly excited that we are investing in these companies that are driving positive changes and improving the lives of people around the world. What a time to live, what a time to be investing!

31 Mar 2023