We are living in unprecedented times. The Covid-19 pandemic has caused global devastation on a scale that was unfathomable just a couple months ago. Faced with extreme fear and uncertainty, global financial markets responded with frenzied selling across all asset classes. This period – which on many metrics surpasses the Great Financial Crisis in terms of uncertainty and financial stress – has led to a swift and significant repricing of every pocket of the financial markets.
Performance and attribution commentary for the Driehaus Active Income Fund as of February 29, 2020.