Tantallon India Fund Report, December 2024
The Tantallon India Fund closed down -3.85% in December (+11.87% for the calendar year) bringing the quarter to a disappointing close with stubborn inflationary expectations forcing a re-assessment of the Fed’s ability to ease into and through 2025, squeezing the dollar higher and triggering another wave of foreign institutional selling, while domestic investors rotated aggressively out of small and mid cap stocks, seeking relative comfort in the large cap index heavyweights. We have stayed focused on fundamentals for our portfolio convictions and have looked to take advantage of the stock market volatility creating compelling valuation opportunities for our investors.
