Four Portuguese funds shine in 2022
Four Portuguese funds more than doubled their assets under management in 2022.
According to Funds People, the success story of the year by a large margin is Portugal Golden Opportunity Fund. The fund began the year with €650,000 under management and ended 2022 with over €2.27 million, a variation of over €1.59 million.
Interest in the fund increased throughout 2022 with quite surprising returns according to Carlos Pinto a senior investments manager at the fund who told Fund People that investors benefited from the “excellent performance of Portuguese shares” that bucked the overall trend in world indices.
Other trailblazers are Sixty Degrees Ações Portugal and Biz Europa PPR/OICVM, both relatively young funds in the market.
Of the maturer funds in the Portuguese market which did well are Montepio GA, Montepio Multi Gestão Prudente and Montepio Euro Energy. The first fund which was formed in 2000 enjoyed total investments in 2022 that were 70% higher than its assets under management in 2021.
In turn, Montepio Euro Energy, created in 2007, did well on the back of energy companies to net around €6.5 million.
Image: Benjamin Davies, Unsplash.