QUAERO CAPITAL’s Argonaut fund celebrates its 20th anniversary

QUAERO CAPITAL is celebrating the 20th anniversary of its flagship fund Quaero Capital Funds (Lux) – Argonaut, which invests in European micro caps (including Switzerland and the UK). Managed on a pure value basis by Philip Best and Marc Saint John Webb, Argonaut has generated since its launch at the end of May 2003, a cumulative performance of +740.7% compared to +514.9% for the EMIX Smaller European Companies Index NR EUR[1]. While it has been soft closed to new investors for a long time, Argonaut is temporarily opening its doors for a limited period and for limited amounts.

Read more

China: the comeback

China is one of the few major countries where growth is strongly re-accelerating, inflation is falling and economic policy remains expansionary. Almost all indicators are in the green and the Chinese equity market is globally attractive.

Read more

Update on China’s Belt and Road Initiative

China’s ambitious ‘New Silk Road’ project aims to build road, rail and sea transport infrastructure, power grids, oil and gas pipelines in 78 countries in Asia, Africa and Europe. However, despite the enormous scale of the project, it is very difficult for foreign investors to participate. Fortunately, other public initiatives in the US, Canada, Europe, Australia, New Zealand and the UK offer alternatives for infrastructure investment.

Read more

Has the outlook changed for fossil fuels?

2022 was one of the most successful years for the oil and gas industry; the industry is estimated to have made income of USD 4trn vs an average of USD 1.4-1.5trn in previous years. The six largest western oil companies made more money than in any year in the history of the industry: over USD 200bn.

Read more

Impressions on the Re-opening

After 3 years, China has finally reopened its doors to foreign travelers. Alice Wang, manager of a Chinese and ex-Japanese equity strategy at Quaero Capital, has just returned from a 3-week trip to China. In the following text, she shares her impressions, sometimes anecdotal, based on numerous meetings and visits throughout the country.

Read more