At FYNSA we have a positive view of the IPSA, but we believe that the highest returns in the local market will correspond to some specific companies and sectors. This view has been corroborated by the results of the FYNSA Total Return fund, which has consistently outperformed the IPSA over time.

The investment portfolio of the FYNSA Total Return fund is composed of stocks selected under a careful selectivity process. As you can see in the attached charts, the FYNSA Total Return fund has returned 19.24% since its inception in January 2020 to date, compared to a negative return of -5.91% shown by the IPSA over the same period.

Going forward, we continue to see very attractive potential in the companies that make up this fund's portfolio.