The best performing stock held during the month was Admiral (+15.2%), the UK insurance company.
The best performers were Argonaut Gold (+25.1%), L’Occitane International (+15.7%) and Axon (+14.5%).
The best performers were Eaton (+12.7%), Visa (+3.5%) and Amazon (+3.2).
MSCI World Index and MSCI Emerging Markets Index traded down around 2.2% and 5.4% respectively.
Fitch downgraded their US sovereign credit rating from AAA to AA+ citing concerns over a deterioration of the government’s debt burden.
Slower inflation market expectations shifted to suggest that we are now at or close to peak interest rates, with the Ashburton Global Equity Income Model Portfolio increasing by 2.1%.
Patterson shares rose 32.3%, along with other oil services companies, responded positively to a rising oil price due to production cuts by OPEC.
A number of smaller companies held performed well, led by Autolus Therapeutics +35.7%, Patterson +32.3% and L’Occitane International +27.5%.
The FTSE All World index increased 3.7% and the Ashburton Global Leaders Model Portfolio by 5.2%.
The Ashburton Global Leaders Fund increased by 5.2%. Alibaba was the best performing holding increasing 22.6%.
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