November ended in a positive way with a gain of 1.09% for the fund. There was a lot of diversity in the development of the equity markets in Eur-Asia during November 2018. The best performing market was Turkey with a gain of more than 12%. Second best was India, this market won almost 6%. All other markets ended in the red. Our positions in China were loosing about -1.5%. Half of our investments in China were allocated to the CSI500 index. This small cap index performed relatively well with a small gain of 0.1%. The investments in Chinese large cap equities performed considerably less good with a loss of about -3%. Russia, with a monthly result of -0.2% performed slightly negative. For sure the bear market of the oil price is not helping the Russian economy. At the other hand the country is developing well in the sectors of agriculture. Also mining companies are backed by the rise of precious metals. The opposite of India was Pakistan. This country couldn’t keep its recovery momentum and fell back sharply, the Pakistan index lost about -7.5% during November 2018.