The document provides an analysis of equity investment performance, highlighting seasonality trends in the MSCI US market and comparing AGP's portfolio performance against MSCI World and S&P indices. It includes tables showing monthly median MSCI US performance and AGP's EV/EBITDA ratios from 2003 to 2017. The document suggests that AGP's portfolio trades at a discount despite superior growth rates, indicating a favorable risk/reward ratio.
documents/EFTA01386261.pdf
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