Alluvial Fund commentary for the first quarter ended March 31, 2024.
Dear Partners,
Alluvial Fund is off to a good start this year, rising 6.3% in the first quarter. Comparable indexes were up between 4.3% and 5.2%. The increase was broad-based, with several portfolio holdings contributing. Since quarter’s end, indexes have turned sour, with small-caps and micro-caps giving up all year-to-date gains and then some. The likely delay in much-anticipated interest rate cuts has investors feeling less sunny than they did in March. In typical fashion, Alluvial Fund is bearing up well in the fitful markets. Despite benchmark...
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