The Nova Investment Club has relaunched its NIC Fund on November 15th. The main objective of this virtual fund is to stimulate and provide knowledge regarding empirical finance research and portfolio management skills. Every month we will provide a factsheet with the performance of our strategic portfolio, as well as a brief market overview.
The NIC Fund performance commentary for the month February 2012 is now available here.
In line with what happened during the month, the last week of November was marked by residual positive gains in most world equity indexes. Within these the European indexes (DAX +1,36% ) were able to outperform the American ones (S&P +0,50%) , in big part due to the fact that the euro-area finance ministers decided to ease the loan terms to Greece and that the EU approved the 37 billion Euros funding program to Spanish banks. On the negative side, the commodity overall index closed the month with weekly losses (DJ-UBS Commodity Index -0,9%), in part due to gold’s and silver’s devaluation of over 2%.
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