🚀 March 2024: Performance Update
Join Mario, Splint Invest's Head of Investments, as he offers an insightful overview of Splint's asset performance over the past month.
March 2024 proved to be an exceptional month for Splint's luxury investments. Leading the pack were the "Luxury Cars" category, which saw a notable increase of 2.6%, followed by "Art" with a respectable rise of 1.5%, and our latest asset category, "Trading Cards," showing a promising uptick of 1.3%.
Notable highlights included the "Champagne Star" portfolio, achieving a remarkable gain of 7.06%, alongside two works by Albert Willem released in March 2024, each experiencing a substantial increase of 5.43%. Additionally, the Ferrari 328GTS witnessed a notable price hike of 3.99%.
In March, global equities surged by 3% with positive results across all regions.
Europe emerged as the top-performing region, experiencing a robust 3.5% increase, driven by encouraging inflation figures and an optimistic macroeconomic outlook suggesting a potential easing of financial conditions rather than rate hikes. Despite lingering risks, concerns about recession have diminished.
In the US, despite ongoing uncertainties such as stretched valuations, the upcoming election, and mounting debt, rate cuts remained on hold due to the economy's relatively stable condition, as indicated by the stock markets. Consequently, the S&P 500 saw a modest return of just over 3%.
Meanwhile, Asian and Emerging Markets regions posted returns of 2.2% and 2.3%, respectively, with Chinese equities rebounding, partly driven by positive earnings, though some companies like Alibaba reported less favorable results towards the end of the month.
Splint's luxury portfolio showcased several outstanding performances, including a 1.8% surge in value for the De Bethune DB25VTIS3 watch, a 3.3% increase for the Macallan The Marriage 31YO, and a 3.0% rise for the Kelly Clouté bag from Hermès.
The art market flourished, with notable paintings like Albert Willem's works released in March experiencing significant value increases of 5.4%. Additionally, other emerging artists' works saw gains of up to 4.8%, further emphasizing the potential of art investments. Photography also saw an average increase of 1.8%.
LEGO investments continued their upward trajectory with a modest increase of 0.44%, with the LEGO Star Wars 75192 standing out with a notable 2.0% increase in value.
Luxury watches displayed mixed results, with mid-price range watches like the De Bethune DB25VTIS3 and the Rolex Daytona 116508 gaining 2.0% and 1.2%, respectively. Conversely, higher-priced watches experienced slight declines.
In the whisky sector, bottles increased on average by 0.3% in the previous month. Macallan The Marriage bottles demonstrated resilience with a 3.3% increase, alongside steady gains for whisky casks.
Wine investments experienced an overall increase of 0.4%, with the Champagne Star portfolio standing out with a notable 7.1% price increase, attributed to favourable purchase prices.
Splint's latest asset category, Trading Cards, showed a promising start with the first Pokémon release realising an increase of 1.3%.
In conclusion, the global demand for luxury goods continues to rise, and Splint Invest remains optimistic about the appreciation of its assets. The company is dedicated to adapting its product offerings to align with market conditions, promising further compelling investment opportunities in the future.
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