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Portfolio Watch - Q1 2024 | Investor Update

Trust Management Ethical Investment Funds

Investor Update for the period ending 31 March 2024

We are pleased to provide you with our March edition of Portfolio Watch which provides a timely update on market developments and the performance of the PIE Funds during the first quarter of 2024. 

As we reflect on what has been a challenging period for the charities and purpose led organisations we have the privilege of partnering with, I wanted to take a moment to express our sincere thanks for your continued trust and support in Trust Management. 

We acknowledge that the past several quarters has created some uncertainty and anxiety for many investors and for those operating in the charitable sector.  A change in government, significant movements in interest rates, geopolitics, and a slowing economy have shaped the financial market landscape and, in some cases, placed additional strains on many organisations.  Despite the volatility and uncertainty, many of the funds we are responsible for have demonstrated resilience, particularly in respect of the income returns being generated; features of the Funds that are important for many of our clients.  

Looking forward, understanding and managing environmental, social and governance (ESG) risks will continue to be an area of focus for us and our clients. During 2024 we will continue to enhance our sustainability efforts and the ways in which we integrate ESG and climate risk considerations into our investment settings. By proactively managing these risks, we aim to not only protect your investments but also seize opportunities in the transition to a more sustainable economy.

In closing, I want to extend my sincere thanks for your continued partnership.  It is a privilege to serve our clients and we remain laser focussed in our commitment to helping you navigate the complexities of the changing world we all operate in. 

As always, please do not hesitate to reach out if you have any questions or if there is anything we can do to further assist you.

Nāku iti nei, nā

Rachael McDonald

Chief Executive


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