1
Don't fear a colling market.
2
Performance Focussed.
3
The market is very segmented, and different strata behave in different ways.
4
The higher quality and higher priced cars (e.g. Fund cars) are starting to dominate the results.
Description
At the moment the car market is in a cycle that we refer to as a wealth preservation cycle. During this time cars that have been in the Fund from before the start of the last quarter are generating moderate, but consistent gains. Modest though their returns may be, in today's volatile market, slow and steady is not a bad outcome. But may more importantly, our analysis shows that most of the Fund's cars are still early in their appreciation trajectory.