We hope you are all well. For Grantia we are all well fortunately.
Week of few movements in the bags. The news in the health order has continued to be good, especially in terms of progress in the development of several vaccines against the virus. On the negative side, the activity data is reflecting the new restrictions in Europe and the USA. In addition, the demands for fraud in the American elections by the Republicans present an uncertain panorama, which is being accompanied by an increase in social disorders. It seems that in view of the festering situation it will be difficult to reach an agreement for the extension of aid to individuals and companies. At the moment the market prefers to focus on health advances, but the political situation in the US is a not insignificant risk. Meanwhile, the endless Brexit negotiations continue. We hope that an agreement will be reached, but it is not out of the question that we will go for another extension.
Quiet week in the portfolios, which end with slight setbacks. The announcements on possible vaccines have continued to support an advance of the Canadian, Australian and New Zealand dollars, the cyclical currencies within our universe. We continue to like the way the portfolios are working, because although global risk is stable and moderate, the potential is increasing. Although this week has been quieter than the previous two, the portfolios are set to benefit when the market moves again, which we are confident it will. We expect a favorable environment in the coming months that will translate into consistent returns across all portfolios.
As always we remind you that we are at your disposal for anything you may need.
This document is provided for informational purposes only and cannot be considered in any case as a contractual element, a recommendation, personalized advice or an offer. Nor can it be considered as a substitute for Key Information Document (KID) or any other mandatory legal information that should be consulted prior to any investment decision. In case of discrepancy, the legal information prevails. All this legal information is available at the offices of Grantia Capital SGIIC, SA and on its website: www.grantiacapital.com