By
Borsgade
Kurt Kara and the team behind Maj Invest Value Aktier provide a portfolio update in their Marts 2024 letter to shareholders.
They give an update on the macro environment and note that they did not initiate any new positions during the month.
(NB: Translation from Danish by Borsgade)
Kering SA was the biggest negative contributing to portfolio returns following a warning that Gucci’s sales will fall by approximately 20 per cent. in the first quarter due to a larger than expected decline in the Asia Pacific region. Overall, the comparable expected sales at Kering, which also owns brands such as Balenciaga and Saint Laurent, is expected to fall with approximately 10% for the period.
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