Tantallon Tech & Sustainability Fund Report, March 2024
The fund rose 7.3% in March, outpacing the MSCI as well as the broad tech gains. Our top holdings in memory delivered strong gains, while TSMC also picked up steam.
The big positive surprise was a strong showing by our only A-share, battery maker CATL. It featured as a top contributor on the back of the company’s product technology and cost leadership positions which combined to generate improving margins in what a volatile 23Q4 for the entire EV value chain.