Transcription of ACATIS GANÉ VALUE EVENT FONDS
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ACATIS GAN VALUE EVENT FONDSAS OF: OCTOBER 31, 2018 MARKET COMMENTARYIn October, the fund price fell by Since the beginning of the year, the fundhas returned In the reporting month, Linde received approval for its mer-ger with Praxair. We significantly increased our position. Grenke impressed with a24% increase in sales for the nine-month period and raised its forecast. L'Occi-tane and LVMH reported sales growth of 9% and 11%, respectively, while Micro-soft increased earnings by 19% and profits by 34% thanks to the booming Cloudbusiness. Only AB InBev was a disappointment in this regard, as its profits decli-ned (mainly due to foreign currency effects) and the dividend was reduced - adevelopment that we welcome, however, in light of the accelerating reduction indebt.
ACATIS GANÉ VALUE EVENT FONDS AS OF: AUGUST 31, 2018 MARKET COMMENTARY The fund price improved by 1.9% in August. It has gained 6.2% since the start of
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