During December 2019 the fund was able to gain 1.64%, bringing the Start To Date performance above the 25%. The combination of a portfolio with a high positive ESG rating and best of class performance (Morningstar) makes Altaica Sustainable Equity Long Short Fund a proposition that is different than the mainstream offerings. We started the month carefully without any leverage. During the month the sentiment turned and it gave us the courage to gear up to a leverage level of almost 60%. The portfolio is still hedged. The best performing shares belonged mainly to the IT sector. Especially Adobe (+7.8%) and Cisco (7.3%) delivered a strong performance. On the losing side we found shares like Assa Abloy (-2.4%) and Walt Disney (-2.2%). Also our Japan position suffered a loss of 1.8% during December 2019.