In 2019, S&P 500, Hang Seng Index & HS300 were up 28.9%, 9.07% & 36.07% respectively. The Federal Reserve had cut interest rates three times throughout the year as econ-growth slowed down. However major global equity markets were boosted thereafter and S&P 500 reached new high.
In 2019, Midas International Group (MIG)'s equity fund were mostly dragged down by Tesla's emotional fluctuation by 18.2%，while the Group's after-tax NAV was down 26.7% as three shareholders divested. However, despite all difficulties, MIG's net asset reached historical high soon after. MIG's equity fund surged 70.7% afterwards as Tesla is finally recognized as the disruptive leader in global auto market. That helped us to accumulate 250.3% total growth in equity fund in less than 6 years, which beat S&P500 by 198.5 ppts. We maintained an astonishing 24.4% CAGR in equity fund in such a recession period.