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Report March 2022

During March, the Pareturn GVC Gaesco Columbus European MidCap Equity Fund class I fell -2.21%. In the last twelve months the Fund has risen by 5.39% and by 32.81% in the last three years. Since its inception in June 2008, Columbus has returned 158.6%, comfortably outperforming European equity indices. The volatility in the last 12 […]

Report February 2022

During February the Pareturn GVC Gaesco Columbus European Midcap Equity Fund class I fell by -4.12%. Over the past twelve months the Fund has risen by 11.46%, and by 35.15% over the last 3 years. Since inception in June 2008, Columbus’ return has been 164%, comfortably exceeding the broad European equity index.  The volatility over […]

Report January 2022

During January, Columbus European Equity Fund Class I fell by 5.08%. Over the past 12 months the Fund has risen by 19.23%, and by 47.42% over the past 3 years. Since inception in June 2008, Columbus’ return has been 175.73%, comfortably exceeding the broad European equity index. These results have been achieved with a volatility […]

Report December 2021

During December Columbus European Equity Fund Class I rose by 5.45%. Over the past 12 months the Fund has risen by 21.4%, and by 65.81% over the past 3 years. Since inception in June 2008, Columbus’ return has been 190.5%, comfortably exceeding the broad European equity index. These results have been achieved with a volatility […]

Report November 2021

During November the Columbus European Equity Fund class I fell by -3.2%. Year to date the Fund has risen by 15.14%, and by 21.2% over the past 12 months. Since inception in June 2008, Columbus’ return has been 175.5%, comfortably exceeding the broad European equity index. The volatility of the Fund over the last 12 […]

Report October 2021

During October, Pareturn GVC Gaesco Columbus European Mid Cap Equity Fund class I increased by +2.21%. The Columbus Fund has risen by +18.99% YTD, and by +41.64% in the last 12 months . Since its inception in June 2008, Columbus’ return has been +184.7%, comfortably exceeding the broad European equity index. Following the sell-off in September markets rebounded strongly this […]

Report September 2021

During September the Pareturn GVC Gaesco Columbus European MidCap Equity Fund class I fell by – 0.98%, beating the -3.41% return of the STOXX 600 index. Over the past six months the Fund has risen by +13.49%, and by +34.34%% over the past 12 months. Since inception in June 2008, Columbus’ return has been 171.07%, […]

Zardoya-Otis Takeover – Effect on Columbus fund

On Thursday 23rd September Otis Worldwide announced its intention to acquire the outstanding shares of its Spanish subsidiary, Zardoya Otis at a 31% premium to the prior close. This marks the third takeover announcement for a holding in the Columbus fund in as many months. As for the other recent takeovers, Akka Technologies and Zooplus, […]

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National Express/Stagecoach Merger – Effect on Columbus fund

National Express, the international transport company, announced on Tuesday 21st September, that they are in merger discussions, in all-share deal, with UK public transport operator, Stagecoach. The suggested deal appears to make strategic sense for both parties as it combines the two operations to enable significant annual cost savings (“at least £35 million”) and accelerate […]

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Global Dominion Access – Holding Update

Price €4.50 Market Cap €730m PE FY2022 14x EV €664m EV:Sales 0.54x DY 0.5% EBITDA Margin 9.2%   Conclusion Having initially purchased our position in DOM at the IPO in 2016 for a price of €2.74 we have now followed the company for over 5 years and continue to find the investment case very attractive. […]