All indications are for 2024 to be an interesting year on the macroeconomic front. Politicians will be playing electoral and geopolitical board games while Central Bankers will be playing inflation watching and interest rate calibration bored games.
If tea leaves are to be read based on historical data related to both election years and interest rates impacting overall market performance, odds remain favorable for 2024 to be a positive performance year. That mentioned, as with everything in life, odds are not certainties.
In this context, our Fund is off to a good start in 2024. Over 1Q24, risk allocations have moved closer to our steady state conditions provided in the Owner-Investor Guide.
Proceeds from US Treasury Bills maturing during January, February and March have been used to purchase participating interests in relatively higher growth businesses and real assets across both developed and developing markets.
Please review the 1Q24 factsheet for more.
