Bell Global Equities Fund, managed by Bell Asset Management, released its May investor update.
A copy of the letter can be downloaded here
The global equity market continued its rally in May, driven by accelerating AI infrastructure spending and a stronger-than-expected earnings season. The Fund (Platform Class) returned 2.1%, underperforming the MSCI World ex-Australia Index’s 4.5% return in May 2026. Information Technology holdings drove the positive return in the month, along with modest contributions from Health Care and Consumer Discretionary exposures.
However, the portfolio underperformed compared to the benchmark, primarily due to the high returns from the benchmark’s mega-cap technology and semiconductor stocks. In addition, please check the Strategy’s top five holdings to know its best picks in 2026. In its May 2026 investor letter, Bell Global Equities Fund highlighted DexCom, Inc. (NASDAQ:DXCM).