🚀 February 2024: A noteworthy month for Splint Invest
Join Mario, Splint Invest's Head of Investments, for an insightful overview of Splint's asset performance throughout the previous month.
February 2024 presented a varied landscape for Splint's luxury investments. Cars, art, LEGO, whisky casks, diamonds, and bags demonstrated positive returns, whereas rare whisky bottles and rum experienced some corrections in their values, attributed to the pricing mechanism of the RareWhisky 101 index.
Among the standouts were "Domaine Leroy," boasting a remarkable gain of 5.6%, and Albert Willem's "Grandpa in Wonderland 2021," exhibiting a substantial increase of 4.4%. Notably, Marc Chagall's "The Sleep of Love" achieved a net realised return of 15.4%, marking a significant success story for the month.
In the broader financial arena, US stocks closed February on a positive trajectory, with major indices reaching new 52-week highs. The S&P 500 surged by nearly 5.9%, reporting a 4% earnings growth and the second consecutive quarter of year-over-year growth. Similarly, European stock markets, including the DAX and EuroStoxx 50, witnessed approximately 5% increases.
Despite these gains, US consumer confidence declined to 106.7 from the previous 110.9, signalling potential economic headwinds. Additionally, January's Durable Goods data displayed a notable decline of 6.1%, exceeding the forecasted -4.5%. Market watchers are also attentive to speeches from Federal Reserve officials scheduled for the upcoming week.
Splint's luxury portfolio showcased several exceptional performances, such as a 1.8% surge in value for the Ferrari F355 Spider and a 3.3% increase for the Kelly Danse bag from Hermès.
The art market flourished, with notable paintings like Pablo Picasso's "The Painter II" experiencing significant value increases of 2.6%. Emerging artists' works saw gains ranging from 0.6% to 4.4%, further emphasising the potential of art investments.
LEGO investments continued their growth trajectory, with the LEGO Star Wars 75192 standing out with a notable 4.5% increase in value.
Luxury watches displayed mixed results, with mid-price range watches like the Patek Philippe Complications World Time Chronograph 5930G-001 and the Perpetual Calendar 5496P-014 gaining 2.7% and 2.2%, respectively. Conversely, higher-priced watches experienced slight declines.
In the whisky sector, while whisky bottles faced a slight decline, the "Japanese and Scotch Whisky Collection" demonstrated resilience with a 2.6% increase, alongside steady gains for whisky casks.
Wine investments experienced an overall decrease of 0.4%, with the Leroy portfolio standing out with a notable 5.6% price increase, attributed to favorable purchase prices.
In conclusion, the global demand for luxury goods continues to trend upward, and Splint Invest remains optimistic about the appreciation of its assets. The company is committed to adapting its product offerings to align with market conditions, promising further compelling investment opportunities in the future.
