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16-07-2010
Fund Update Global Small Cap Value Q2 2010

Performance
In the first half of 2010, Sparinvest Global Small Cap Value posted a return of 13.66%, compared with 12.76% for the general small cap equity market, as measured by the MSCI World Small Cap index. During the second quarter, the fund gained 1.50%, while the small cap index dropped by 1.13%.

Breaking the second quarter down further, value stocks dropped by 4.08%, while growth stocks fell by 2.97%.

Sparinvest S.A. | 28, Boulevard Royal | L-2449 Luxembourg | Phone: +352 26 27 47 1 | Fax: +352 26 27 47 99