The annual earnings season is behind us and it is time to digest the numbers. The shares in our fund have shown strong results, with average profit growth over the last quarter of last year coming in at more than 20% compared to the same quarter a year earlier. The management teams of our companies have announced an average dividend increase of 18%. On the stock market, our shares were rewarded for this good news with a price increase of 6.0% in the first quarter. Since the fund’s inception in 2016, the return now stands at over 75%.