GAIA Egerton Equity Fund detracted in February by 0.9%, following a 1.0% gain in February. Currently, the portfolio size of the GAIA vehicle is $986.1 million and is managed by John Armitage. Through Q1 the fund is down roughly 3.6% after a rough March with returns of roughly -5.2%.
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Note: Egerton’s commentary is not available yet for March, so we only have details from the February letter to investors.
Equity markets were overall positive in February, with laggards coming from the software and tech sectors. AI disruptions were behind a downturn in these industries, with new tools from the AI sector causing havoc. Both the short and long sides of the portfolio underperformed.
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