RAMM Global Assets return compared to the major banks in 2024
Intro
Many investors compare returns. But returns say little without context. Especially in one year. Nevertheless, it makes sense to look back periodically. Not to win. But to understand.
Efficiency starts with structure
To compare apples to apples, we looked at the neutral risk profile portfolios of the five major Dutch banks. In terms of structure, they are close together. Our reference benchmark differs in terms of allocation to alternatives. Where the banks rely mainly on stocks and bonds, our benchmark also has room for commodities, gold and real estate.
Figure 1: Benchmark considerations for management portfolios
2024 in perspective
Stocks performed well worldwide. But that was mainly due to the US stock market. Other regions lagged behind. Bonds offered little return. Gold performed strongly. This made 2024 a favorable year for portfolios with a strong weighting in US stocks.
Figure 2: Managed portfolio returns (Source: Investment Officer)
RAMM's performance
RAMM Global Assets (the fund) achieved a return of +12.0% in 2024. In doing so, it performed better than the managed portfolios of the five major banks. Only ING came close, with +11.6%. Nevertheless, the Fund lagged behind its own benchmark. The cause? This is explained in our annual review.
Table: returns after costs
Looking further
One year is not a strategy. If you are looking for calm, look further. Since its launch on 1 January 2021, the fund has achieved an average return of 8.7% per year. The five major banks averaged 4.1%.
Lock
Markets are moving. You don't have to.
Direction is not a snapshot. It is a result of structure, discipline and keeping course.
