03.02.25 - January Performance ETFMandate Portfolio

Successful start 2025 despite several events with some heavy market impacts.

Portfolio Performance YTD: +12.75%
Market Performance: ACWI* +3.14%
DAX +9.16%
Nasdaq +1.66%

Source: IBKR, 02.02.2025

Markets: eventful and challenging first month of the year with ups and downs on speculations, extreme fear sentiment, AI crash, politics, European markets outperforming, short-term trading opportunities

My View: I am very happy with the performance realized in the first month of the year. Taking into account that we had several challenges like inflation fears, DeepSeek shock, political turmoil, earnings season and important central bank meetings.

I started to anticipate potential market turbulence during the second half of December already (see Market Insights) and proactively implemented tactical positions, also on the short side, and going long on volatility. The base portfolio with long-term investments (buy&hold) strategy benefited from a certain sector rotation.

*MSCI all Countries World Index

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