Pital
 

Performance

Performance

 1st Quarter 2018 Full year 2017 Full year 2016 CAGR 2007-2015
AB Invest Capital     8.77%   39.68%  24.60% 17.61%
S&P 500    -0.76%   21.93%  11.96%   8.93%
B/(W)   +9.53%                 +17.75% +12.64% +8.67% 

Note: All performance calculations are based on AB Invest Capital per share book value and include dividends. Numbers are updated quarterly.

 

Comments on 1st Quarter 2018:

We covered our short positions in S&P500 in the quarter and continued to have better yield in our Private Equity investments than in public securities. Our philosophy remains the same and we continue to hold unusual large amount of cash ready to invest as opportunities present themselves.

We continue to believe that investing in operating companies will continue to have better return than dividend paying stocks at this time. As we continue to pay attention to our operating companies we value the ability to generate value in turbulent times. If interested, please read my latest article on my LinkedIn page. I will continue to author articles from time to time to educate the reader in our focus investment ideas in how to create value. 

                                                                                                                             ***

We are pleased to report to our shareholders that in the 1st quarter of 2018 we beat our benchmark index S&P 500 by +9.53%, much related to gains in our operating companies. Although slightly short of our goal to beat S&P 500 by at least 10%-points, we believe we can do for the full year.

                  

Anders J. Berggren

Chairman, AB Invest Capital

 

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