By
Borsgade
In their July 2023 letter to shareholders, Kurt Kara and the investment team at Maj Invest focus on the continuously rising interest rates in the US and Europe, which have not been higher for many years.
On the portfolio side, they state: “No new companies were added to the portfolio in July, nor were any companies sold off.”
The European Central Bank also raised interest rates by 0.25 percentage points to an all-time high of 3.75%. This has not happened since 2001, when the ECB tried to increase the value of the euro, which had just been launched.
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