May proved to be a strong period for risky assets, with Crescit funds recovering from a weaker April. While global equities rose sharply, the Crescit and Protect funds managed to deliver positive returns thanks to well-executed management and strategic risk management.

After a tough April with negative returns in several markets, global equities rebounded in May with a 4.23 % gain. The Crescit fund rose by 0.8 %, and the Protect fund delivered an impressive return of 2.4 %. This success can be attributed to a combination of effective derivatives management and carefully selected portfolio protection, which together created a solid foundation for recovery.

One of the factors that contributed to this positive development was the continued decline in volatility, which benefited the equity and bond markets. This gave the management team the opportunity to adjust protection levels and strengthen the portfolio's position ahead of the summer.

The level of risk in the Crescit fund remains low ahead of the summer, with an overweight towards interest-bearing assets, which gives investors a safer investment despite continued high interest rates and challenging equity multiples.