In 2018, S&P 500, Hang Seng Index & HS300 were down 6.2%, 13.6% & 25.31% respectively. The Fed has raised interest rates four times throughout the year, while the trade war woes spread out.
In 2018, Midas International Group (MIG) 's equity fund bucked the trend with 20.4% growth while the Group's after-tax NAV was up 16.3%. And by the end of December 31st 2018, MIG accumulated 151.0% growth in equity fund, which in turn beat S&P500 by 125.5 ppts. We maintained 23.7% CAGR in equity fund during a difficult year.