Business-critical software wins
During February, the vast majority of companies presented their results for the fourth quarter and full year of 2023. Similar to many times before, our overall impression was overwhelmingly positive, with the difference that companies delivering strong figures were now also generously rewarded by the stock market. The difference was most evident at the beginning of the month when most of the funds' larger holdings reported. Towards the end of the period, unfortunately, we also had to note some disappointments. Overall, the positive momentum we saw in January continued, and we are pleased with a really strong start to the year.