Fund Commentary

Fund Commentary 2022-08-19T16:05:20-05:00

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Global Value Fund Commentary | 2Q 2022

This quarter’s commentary will inform our investors of our recent portfolio positioning and it will describe why we believe the companies the Fund continues to own have significant upside opportunity when rediscovered by the market.

Global Value Fund Commentary | 1Q 2022

We decided a trip to Europe was required to get a firsthand perspective from a cross-section of European businesspeople. Now a few weeks later, we feel our investors would benefit to know some of our key takeaways from the trip.

Global Value Fund Commentary | 4Q 2021

Despite the emergence of the highly transmissible Omicron variant of COVID-19 and continued concerns about inflation across the world, global markets generally posted a strong fourth quarter.

Global Value Fund Commentary | 3Q 2021

The third quarter started out well for Eurozone equities amid strong Q2 earnings, positive investor sentiment, and growing vaccination rates that made travel across Europe much safer and easier. However, inflation concerns and rising energy prices chipped away at stock market gains as the quarter progressed.

Global Value Fund Commentary | 2Q 2021

Global markets continued their positive gains in the second quarter.  In the U.S., despite continued investor concerns about rising inflation rates and after impressive first quarter GDP growth of 6.4%, the S&P 500 hit an all-time high in June.

Global Value Fund Commentary | 1Q 2021

Global markets once again posted positive gains, as concerns about second and third surges of COVID-19 infections gave way to the significant progress made in the manufacture, distribution and provision of vaccinations, especially in the U.S.

Global Value Fund Commentary | 4Q 2020

News of multiple COVID-19 vaccines showing high efficacy and receiving emergency regulatory approval was the main driving force behind global stock market gains in the fourth quarter.

Global Value Fund Commentary | 3Q 2020

Following a strong second quarter, global markets again generally posted solid gains in the third quarter, with U.S. and Asian markets outperforming their European and U.K. counterparts.

Global Value Fund Commentary | 2Q 2020

Global markets generally posted solid returns in the second quarter, as economic stimulus plans, easing of COVID-19 lockdowns, and early signs of economic recovery fueled investor optimism.

Global Value Fund Commentary | 1Q 2020

The novel coronavirus (“COVID-19”) has had a devastating impact across the globe affecting just about every aspect of life – health, economic and social.

Global Value Fund Commentary | 4Q 2019

In stark contrast to 2018, the fourth quarter of 2019 ended on a strong note…

Global Value Fund Commentary | 3Q 2019

U.S. and European markets generally showed modest positive returns in the third quarter…

Global Value Fund Commentary | 2Q 2019

Global markets were generally up in the second quarter despite a mid quarter dip…

Global Value Fund Commentary | 1Q 2019

The end to the U.S. Government shutdown, reports of progress on China-U.S. trade talks, and the Federal Reserve’s…

Global Value Fund Commentary | 4Q 2018

The volatility in the fourth quarter of 2018 was dramatic and, as global markets sold off…

Global Value Fund Commentary | 3Q 2018

Global equity prices were generally higher in the third quarter, largely due to the strength of…

Global Value Fund Commentary | 2Q 2018

The threat and eventual imposition of tariffs continued to negatively impact global markets, which in turn,…

Global Value Fund Commentary | 1Q 2018

The first quarter of the year was rocky as investors witnessed volatility…..

Global Value Fund Commentary | 4Q 2017

Fueled by strong corporate earnings reports and the impending…..

Global Value Fund Commentary | 3Q 2017

The third quarter was marked by one catastrophic hurricane after another…..

Global Value Fund Commentary | 2Q 2017

Global markets had another strong quarter, supported by a generally positive corporate earnings season,…..

Global Value Fund Commentary | 1Q 2017

The first quarter of 2017 was a solid start to the year for the Evermore Global Value Fund and generally for U.S. and global markets as well…..

Global Value Fund Commentary | 4Q 2016

The U.S. presidential election and Donald Trump’s surprise victory dominated the news in the fourth quarter. After some initial volatility, the global markets responded positively toward the election results and the Fund posted another quarter of strong gains….

Global Value Fund Commentary | 3Q 2016

After investors had time to digest the Brexit vote and come to the realization that the exit from the European Union (“EU”) would neither be quick nor have dire consequences on global markets, markets calmed and attention moved to the U.S. presidential election, which provided summer entertainment to billions across the globe. Despite the Brexit and election spectacle…

Global Value Fund Commentary | 2Q 2016

After a few months of relative calm in the global markets, volatility surged back at the end of the second quarter after UK citizens somewhat surprisingly voted to exit the European Union (“EU”). Much like the panic and stress during the first seven weeks of the year, the first few days following the so-called “Brexit” wreaked havoc on global markets.…

Global Value Fund Commentary | 1Q 2016

Dear Shareholder, The first seven weeks of the New Year was one of the most volatile periods of stock market activity we have seen since 2008…

Global Value Fund Commentary | 4Q 2015

Dear Shareholder, Global markets experienced markedly less volatility during the fourth quarter as compared to Q3 and posted solid gains, despite two major terrorist attacks that shook the world….

Global Value Fund Commentary | 3Q 2015

Dear Shareholder, Markets were extremely volatile and down significantly during the third quarter, mainly as a result of concerns about China’s…

Global Value Fund Commentary | 2Q 2015

Dear Shareholder, The Evermore Global Value Fund (the “Fund”) registered a small positive return for quarter, despite the extremely uncertain environment…

Global Value Fund Commentary | 1Q 2015

Dear Shareholder, The Evermore Global Value Fund (the “Fund”) got off to a strong start in 2015, as catalysts at work combined…