🚀 July 2024: Performance Update

Traditional Markets Around the Globe 

In July 2024, equity markets showed mixed results. The Dow Jones Industrial Average rose 4.5%, and the Russell 2000 surged 10.2%, benefiting from a shift towards value stocks. In contrast, the NASDAQ fell 0.7% due to a significant tech stock sell-off, with the technology sector declining 3.3%. Inflation dropped below 3% for the first time in a year, leading to lower treasury yields; 2-year and 3-year treasury notes fell by 42 basis points. Bond funds performed well in this environment. The housing market faced challenges with both new and existing home sales declining, although home prices set new records. European stock indices, except for the EURO Stoxx 50, generally trended positively in July, with the SMI leading at 2.7% and the FTSE 100 gaining 2.1%. 

By the end of July, investors were keenly anticipating the next Fed meeting and upcoming U.S. job market data, as these factors could significantly influence stock market performance in the months ahead. 

How Did Splint Invest’s Portfolio Manage These Turbulent Times? 

July 2024 was a promising month for most luxury investments offered by Splint Invest. Mario, Head of Investments at Splint Invest, provides an overview of last month’s performance. 

Categories Under the Spotlight in July 2024 

The Splint Invest portfolio performed strongly across most categories in July. Trading Cards led with a 2.3% gain, followed by Art at 1.7% and Sports Memorabilia at 1.2%. Newly introduced Sports Cards increased by 1.1%, and Sneakers showed 1.0% growth. Other categories, including Whisky Casks (0.7%), Lego (0.5%), Whisky Bottles (0.3%), and Cars (0.1%), also contributed positively. Despite declines in Precious Metals (-2.6%) and Diamonds (-4.3%), the overall portfolio recorded a modest 0.1% increase, highlighting the resilience of alternative investments. 

The Precious Metals sector declined by 2.6% in July but still shows a 5.3% year-to-date gain. The Diamonds market dropped 4.3% due to reduced global demand. The watch market (-0.9%) continues to deliver mixed results. 

The wine and whisky market remains favorable for buyers, with opportunities to acquire prestigious bottles below market value. This allowed us to add the Domaine de la Romanee Conti portfolio and the second part of the vertical Glenfarclas Pagoda collection at a discount of 5% in July.