Select Equity Group Down 9.3% YTD Amid Defensive Shift And Tariff Volatility

The GAIA Select Equity Group US Equity fund is part of the GAIA group of funds managed by Schroders. It is a high-conviction, long-biased U.S. equity fund employing a long-short strategy with an AUM of $248.2 million. The hedge fund invests in high-quality businesses characterized by strong, predictable growth, high returns on invested capital, and robust competitive moats.

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In April's report, the company disclosed that the fund generated a negative 3.8% return during the month, resulting in a year-to-date (YTD) performance of -9.3%. The fund's performance trails behind the S&P 500, which returned -5.0% in 2023.

The top contributors to the portfolio were a multi-sector short position, a core-and-main position, and Martin...