Iron Trust Asset Management Ltd.

Monthly report Pure ESG Europe Fund - March 2021

The Pure ESG Europe Fund is celebrating its first year of existence with a performance of 31.3% (net of fees) since inception on March 31, 2020.

The recovery in global demand and additional monetary and financial policy measures are supporting the economy worldwide and in Europe. The ECB and the national euro central banks increased their net purchases of government bonds, corporate bonds and other securities in March. As part of their pandemic program PEPP, which is worth billions, purchases were increased by around 50 percent to a volume of EUR 21.05 billion. Together with the expected gradual easing of the “lockdown” measures, the ongoing vaccination campaigns underpin the expectation that a strong economic recovery will set in in the course of 2021. In March, for example, the economic sentiment in the eurozone improved surprisingly strongly. For the first time since the outbreak of the pandemic, the indicator for assessing economic development is now slightly above its long-term average. Among the largest EU economies, Germany stood out with the largest monthly improvement in its indicator since records began. Production expectations in German industry are higher than they have been in 30 years. After the historic slump in 2020, the global economy is likely to grow by 6.0 percent this year and thus not more strongly than it has been since 1976.
Factsheet Pure ESG Europe Fund