Kernow Asset Management 4Q22 Performance Update

Kernow Asset Management’s performance update for the fourth quarter ended December 31, 2022. Q4 2022 hedge fund letters, conferences and more The strategy gained 4.5% in December despite a fall in the UK equity market. A strong performance from Metro Bank and Saga aided this month’s returns. We hope that this is the first step towards achieving a re-rating for both stocks. For this to happen, we expect to see analyst upgrades for Metro Bank in Q1, forecasting a return to profitability in 2023 and a dividend payout in 2024. For Saga, ideally, we would see a de-leveraging transaction that…