NHS Sicav – NOVACAP Global Strategy fund – Fact sheet – February 2016

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Equity markets remained under pressure in February after a month of January already heckled. There were two distinct phases in February, subject to a very high volatility. Most developed countries stock markets have experienced massive sales during the first half of the month and then recovered during the second half. In Europe, the reasons behind this significant decline are first various political events (Brexit and the refugee crisis in particular) and the concerns about bank balance sheets with the impact of negative interest rates and their disappointing results. On their side, US stocks posted a slight negative performance after the Fed has warned that the turmoil of the global market could affect the US growth.

NGSF FS Share class A feb 16

NGSF FS Share class B feb 16

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Laurent Van Den Eynde

Laurent Van Den Eynde

Co-Manager of Global Strategy fund

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