{"id":1413,"date":"2019-01-15T13:50:45","date_gmt":"2019-01-15T12:50:45","guid":{"rendered":"http:\/\/kallistopartners.com\/eng\/?p=665"},"modified":"2021-07-09T11:29:34","modified_gmt":"2021-07-09T09:29:34","slug":"commentary-31-december-2018","status":"publish","type":"post","link":"https:\/\/kallistopartners.com\/it\/commentary-31-december-2018\/?lang=en","title":{"rendered":"Commentary 31 December 2018"},"content":{"rendered":"<div id='full_slider_1'  class='avia-fullwidth-slider main_color avia-shadow   avia-builder-el-0  el_before_av_section  avia-builder-el-first   container_wrap fullsize' style=' '  ><div   data-size='no scaling'  data-lightbox_size='large'  data-animation='slide'  data-conditional_play=''  data-ids='2502'  data-video_counter='0'  data-autoplay='false'  data-bg_slider='false'  data-slide_height=''  data-handle='av_slideshow_full'  data-interval='5'  data-class=' '  data-el_id=''  data-css_id=''  data-scroll_down=''  data-control_layout='av-control-hidden'  data-custom_markup=''  data-perma_caption=''  data-autoplay_stopper=''  data-image_attachment=''  data-min_height='0px'  data-src=''  data-position='top left'  data-repeat='no-repeat'  data-attach='scroll'  data-stretch=''  class='avia-slideshow avia-slideshow-1  av-control-hidden av-default-height-applied avia-slideshow-no scaling av_slideshow_full   avia-slide-slider '  itemprop=\"image\" itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/ImageObject\" ><ul class='avia-slideshow-inner ' style='padding-bottom: 24.21875%;' ><li  class=' av-single-slide slide-1 ' ><div data-rel='slideshow-1' class='avia-slide-wrap '   ><div class = \"caption_fullwidth av-slideshow-caption caption_center\"><div class = \"container caption_container\"><div class = \"slideshow_caption\"><div class = \"slideshow_inner_caption\"><div class = \"slideshow_align_caption\"><h2  style='font-size:55px; color:#ffffff; ' class='avia-caption-title  '  itemprop=\"name\" >News<\/h2><\/div><\/div><\/div><\/div><\/div><img src='https:\/\/kallistopartners.com\/it\/wp-content\/uploads\/2021\/07\/myanmar-2-e1625671809831.jpg' width='1920' height='465' title='myanmar (2)' alt=''  itemprop=\"thumbnailUrl\"   \/><\/div><\/li><\/ul><\/div><\/div>\n<div id='av_section_1'  class='avia-section main_color avia-section-default avia-no-shadow  avia-bg-style-scroll  avia-builder-el-1  el_after_av_slideshow_full  avia-builder-el-last   container_wrap fullsize' style=' '  ><div class='container' ><div class='template-page content  av-content-full alpha units'><div class='post-entry post-entry-type-page post-entry-1413'><div class='entry-content-wrapper clearfix'>\n<div  style='padding-bottom:10px; ' class='av-special-heading av-special-heading-h3    avia-builder-el-2  el_before_av_one_half  avia-builder-el-first  '><h3 class='av-special-heading-tag '  itemprop=\"headline\"  >Commentary 31 December 2018<\/h3><div class='special-heading-border'><div class='special-heading-inner-border' ><\/div><\/div><\/div>\n<div class=\"flex_column av_one_half  flex_column_div av-zero-column-padding first  avia-builder-el-3  el_after_av_heading  el_before_av_one_half  \" style='border-radius:0px; '><section class=\"av_textblock_section \"  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock  '  style='font-size:14px; '  itemprop=\"text\" ><div class=\"page\" title=\"Page 1\">\n<div class=\"layoutArea\">\n<div class=\"column\">\n<p>In the last quarter the Aristea New Frontiers Fund was not significantly affected by the sharp decline in developed financial markets. In fact Europe and United States suffered\u00a0 a loss of around -14% due to the interest rate hike by the FED, concerns over the slowdown in developed economies and the trade war between the United States and China. Despite the negative performance in absolute terms, this period was confirmed that Frontier Equities Markets represents a significant diversification opportunity for a global portfolio.<\/p>\n<p>In 2018, the Fund registered a performance of -15.4% in USD, compared to -23.6% for the benchmark. Our active strategy allowed the fund to end the year with a significant outperformance of + 8.2%. In accordance with our behavioural finance studies, we have invested in countries and stocks that are less vulnerable to short-medium term capital outflows such as Vietnam, Saudi Arabia, Kuwait and Nigeria.<\/p>\n<p>Despite uncertainties related to the \u00a0global economy, we are confident in Frontier Markets Equities. In fact, most of these economies continue to growth at rates between 4% and 7%. Our studies begin to identify excellent entry opportunities in specific countries and companies.<\/p>\n<div class=\"page\" title=\"Page 2\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div><\/section><\/div><div class=\"flex_column av_one_half  flex_column_div av-zero-column-padding   avia-builder-el-5  el_after_av_one_half  avia-builder-el-last  \" style='background: #efefef; background-color:#efefef; border-radius:0px; '><section class=\"av_textblock_section \"  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock  '   itemprop=\"text\" ><p align=\"justify\"><a href=\"http:\/\/kallistopartners.com\/it\/wp-content\/uploads\/2021\/07\/Commento-4Q2018-Eng.pdf\" target=\"_blank\" rel=\"noopener\"><img class=\"aligncenter\" src=\"http:\/\/kallistopartners.com\/it\/wp-content\/uploads\/2021\/07\/Cattura_commento201812-e1621603428572-wpp1621603477467.png\" \/><\/a><\/p>\n<\/div><\/section><\/div>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":3,"featured_media":2624,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[28,9],"tags":[],"_links":{"self":[{"href":"https:\/\/kallistopartners.com\/it\/wp-json\/wp\/v2\/posts\/1413"}],"collection":[{"href":"https:\/\/kallistopartners.com\/it\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/kallistopartners.com\/it\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/kallistopartners.com\/it\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/kallistopartners.com\/it\/wp-json\/wp\/v2\/comments?post=1413"}],"version-history":[{"count":8,"href":"https:\/\/kallistopartners.com\/it\/wp-json\/wp\/v2\/posts\/1413\/revisions"}],"predecessor-version":[{"id":2712,"href":"https:\/\/kallistopartners.com\/it\/wp-json\/wp\/v2\/posts\/1413\/revisions\/2712"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/kallistopartners.com\/it\/wp-json\/wp\/v2\/media\/2624"}],"wp:attachment":[{"href":"https:\/\/kallistopartners.com\/it\/wp-json\/wp\/v2\/media?parent=1413"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kallistopartners.com\/it\/wp-json\/wp\/v2\/categories?post=1413"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kallistopartners.com\/it\/wp-json\/wp\/v2\/tags?post=1413"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}