Investing With Conviction: Reporting Season Report Card

March 2018 Newsletter | By and large, reporting season was relatively benign for the companies in the Fund’s portfolio, with the majority reporting results that were in line with our expectations. By contrast to the respective business performance of the companies owned in the Fund, their stock prices often fluctuate significantly in the short term. In this edition we discuss the reporting season and the earnings progress of the companies in which the Fund is invested.