In the most recently ended week, the Long-Term Value Portfolio lost ground against the S&P 500, down a relative 1.3%. On an absolute basis, the portfolio lost 1.2 percentage points, largely due to the 20%+ decline in FWLT, losses in coal names, and overall losses in the more cyclical sectors of the markets, namely materials and industrials. This is reflected in the chart below showing the performance of the portfolio (blue line) versus the S&P 500 (green) and the NASDAQ (brown).
With the weekly loss, the portfolio's performance has turned slightly negative relative to the market since inception, down 80 basis points, but still up 10.7%. Year-to-date, the portfolio has gained 3.5% in value, but remains down relative to the market by about 3 percentage points.
With the weekly loss, the portfolio's performance has turned slightly negative relative to the market since inception, down 80 basis points, but still up 10.7%. Year-to-date, the portfolio has gained 3.5% in value, but remains down relative to the market by about 3 percentage points.
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