Quarterly Letter
The Altrinsic International Equity portfolio declined 2.2% during the quarter, compared with declines of 0.4% and 3.0% for the MSCI EAFE and MSCI All Country World ex-US indices, respectively, as measured in US dollars. Strong performance by our financials holdings was offset by weakness among health care, communications, and consumer-related investments that lagged due to uncertainties stemming from COVID-19 and China.
