GLRE - Stanphyl Capital Letter - February 2019
February 28, 2019
Friends and Fellow Investors:
For February 2019 the fund was down approximately 0.8%* net of all fees and expenses. By way of comparison, the S&P 500 was up approximately 3.2% while the Russell 2000 was up approximately 5.2%. Year-to-date 2019 the fund is up approximately 7.0%* while the S&P 500 is up approximately 11.5% and the Russell 2000 is up approximately 17.0%. Since inception on June 1, 2011, the fund is up approximately 75.9*% net while the S&P 500 is up approximately 143.7% and the Russell 2000 is up approximately 106.8%. Since