English to Italian Bus/Financial Investment / Securities relazione trimestrale fondi

The latest quarter has been difficult for small and medium sized companies in the US. The US stockmarkets have gone through an unsettled period as a result of negative news regarding the credit and US housing markets. However, the fund has performed very well over the quarter relative to the index, with a number of companies that we hold announcing higher-than-expected quarterly results.

Within the fund, we combine three distinctly different types of stocks: (1) those that we call ‘mis-priced’ growth opportunities, which are companies that demonstrate strong growth trends and improving levels of cash; (2) ‘steady eddies’, which generate dependable earnings and revenues; and (3) turnarounds, which are companies that are undergoing positive change that is not being recognised by the market. By doing so, we believe we can reduce overall risk and improve returns for our investors.