Strategically (long-term), our portfolios seek to outperform in a weak US Dollar environment. Tactically (short-term), our positioning is guided by our Key Themes. Entering 2022, we expected USD strength & adjusted our core funds accordingly (“2020 Outlook”, 1/24/22). Consequently, despite the USD reaching 20-yr highs in 1H22, both EPVIX (EuroPac International Value Fund) & EPDIX (EuroPac International Dividend Income Fund) outperformed (pg-2).
