Half of the year 2018 marked by high volatility in the markets - the MCVM Global Brands Fund EUR hedged - Quarterly Report 2018

The MCVM Global Brands EUR hedged fund closed the first half of 2018 at 107.57 euros. The second-quarter return was + 4.54%, resulting in a return of -0.25% for the year as a whole. For comparison, the Dax index, which is important for German investors, closed the first half of the year at -4.73%.