NZS Capital, an investment management firm, published its “Growth Equity Fund” second-quarter 2022 investor letter – a copy of which can be downloaded here. The NZS Capital Growth Equity strategy was down 23.44% net of fees in the second quarter of 2022; in comparison, its global market index benchmark declined by 15.64%. Year to date, the strategy was down 31.62% net while the index fell by 20.01%. Since inception, the strategy has cumulatively risen 35.33% net compared to a 9.86% return in the benchmark. The NZS Capital Select strategy was down 22.70% net in the second quarter of 2022, with a net year-to-date decline of 29.52% and a cumulative net gain of 45.84% since inception. Go over the fund’s top 5 positions to have a glimpse of its finest picks for 2022.