Endowus Core-Flagship Cash/SRS Portfolio

The 100% Equity Portfolio delivered strong positive returns in January, rising 2.2% even while modestly trailing the broad equity market. The Flagship Cash 100% Equity Portfolio delivered a solid performance in January, generating a 2.2% return after fees, slightly trailing the global equity market’s 2.6% gain (before fees).A key driver of the portfolio’s performance was its tilt towards value stocks, which outpaced growth stocks during the month. This positioning, implemented through the Dimensional Global Core Equity Fund, proved beneficial and emerged as the top-performing fund within the equity sleeve.The Portfolio faced headwinds from its structural overweight in emerging markets and Pacific regions. Emerging markets underperformed developed markets by nearly 2% in January, primarily due to the drag from India equities. This underperformance is consistent with the trend observed in 2024, where emerging market equities, despite posting gains, lagged behind developed markets. The 100% Fixed...