Savigny Partners Newsletter
27/01/2012
A tale of two halves
The Savigny Luxury Index (‘SLI’) outperformed the MSCI World Index (‘MSCI’) by 16 percentage points despite a string of severe beatings over the year. It gained close to 8% over the year, relative to a decline of almost 8% for the MSCI. Stripping out the effects of the Prada IPO in June, which mechanically boosted our index through the introduction of a large number of new shares, the SLI still ended the year up 3%.
Read more