Both the benchmark and the Fund were up over 1% in the public-holiday shortened week just passed.
It may not be obvious in the share price, but EGP just had its best week of 2014. One cannot always tell when good portfolio construction will pay off; in fact it has a funny habit of coming in fairly rapid chunks for no apparent reason a lot of the time. But if we hold a portfolio with the right mix of businesses, which we think we do, we are quite sure it will come eventually. Our mix improved substantially this week, in ways I will talk about further in due course.