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2020, a year to forget…or not!
2020 was a turbulent year full of surprises: pandemic, lockdowns, government stimulus, record-breaking vaccine discoveries and the most controversial US presidential elections of modern time. Yet, in a year full of disruption, it can be argued that the most pleasant surprise was the scale of the rebound in global markets. Who could have predicted this during the market plunge in March! The investors that remained focused on their investment horizon and maintained their investment discipline, have been handsomely rewarded.
Here are the main Ancoria Fund highlights of the last quarter of the year.
2020 will definitely be a year everyone will remember. December saw a revival of the pandemic as most advanced and emerging economies entered fresh lockdowns. The severity of the lockdowns doesn’t seem to bother equity investors, as the size of government stimulus measures and the unprecedented monetary support by Central Banks seem to give the green light for the bull market to continue into 2021.