The Pensato Europa Absolute Return Fund returned +4.73% over the first quarter of 2015, and -1.36% in March, as a favorable market environment, coupled with reduced stock price correlation continued to reward the fund, according to a letter to investor reviewed by ValueWalk.
Pensato investment review
Like most European equity funds, Pensato has been affected by the ECB’s decision to embark on a program of quantitative easing of greater scale and longevity than expected by most market participants. Pensato notes that the resulting weakness in the Euro against other currencies will have a positive impact on the earnings of many European companies as profits from operations in America and Asia will...
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