Appleseed Fund, an investment management company, released its third-quarter 2024 investor letter. A copy of the letter can be downloaded here. The fund’s Institutional Class generated an absolute return of 20.46% over the 12 months that ended September 30, 2024, compared to the Morningstar Global Small/Midcap Index’s 25.97% return. Appleseed Fund was positioned for an inflationary, slow-growth environment for most of the previous years. The cautious position of the Appleseed Fund prevented investment gains even while inflation levels have been lowering, and the stock market has been...
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