- GreenWood Investors is a mostly-long, deep value investment firm focused on areas of extreme pessimism, structural inefficiencies and low competition.
- Cutting to the chase, the performance in the quarter for the Global Micro Fund was -7.7% net (+30.5% YTD), and this compares to our benchmark MSCI ACWI index returning -1.1% in the quarter (+11.5% YTD).
- Without any FX headwinds, euro-denominated Luxembourg fund returned -3.3% net (+39.4% YTD).
- Separate account composites had similar returns, as Global Micro strategy returned -8.1% net (+15.0% YTD) and our longest-running and long-only Traditional accounts returned -6.8% net (16.5% YTD).
- The Builders Fund I returned -5.2% net in the quarter (+84.5%YTD) driven partially by foreign exchange. Builders Fund II, which was launched in the quarter, returned +3.0% net(+3.0% YTD).
For further details see:
GreenWood Investors Third Quarter 2021 Letter