The Mercator International Opportunity Fund (MOPPX) Quarter 1, 2020 Report
Following very strong performance in 2019, the Mercator Fund was cruising nicely in January. Performance peaked in mid-February when global markets were hit by yet another Black Swan event. By definition, this was unpredictable and investors were taken by surprise. Stock prices plunged. The S&P ended the quarter down 21%. The Mercator International Opportunity Fund was down 23.16%, in line with its benchmark the Morgan Stanley EAFE index which dropped 22.83%.
In moments of crisis, it is important not to overreact and to