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.