Portfolio Performance
Our long-only “Librarian Capital” portfolio gained 7.1% in USD in August, but a 2.2% appreciation of GBP against USD reduced our reported gain to 4.8% - a slight underperformance vs. the MSCI World index, our chosen benchmark, which gained 5.1%; our year-to-date gain of 5.4% in GBP is ahead of MSCI World’s gain of 4.7%, as we continue to outperform materially since inception, including in 3 of the last 4 years:
Our performance since 2019 - the year we started managing our portfolio full time - as compared with MSCI World, other key