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After the big sector rotation in November, December was a strong month for shares in general. The Global Esports Fund ended up 1.7 percent on the month, for 2020 the rise adds up to 7.9 percent, however, the performance was much stronger in USD. Note that the fund was started in June this year.
The development in the market in December reflects much of what we saw during the year after the Corona outbreak. Strong development for Esport at all levels except for the live events which have been completely shut down during the year. The professional leagues have grown and the interest from viewers and sponsors has grown. However, the big new trend is that regular players have signed up for tournaments to participate, that is, players pay an entry fee to participate in tournaments where prize money and glory are played for.
2020 was a back-heavy year in terms of new game releases as developers have been waiting for the new consoles, which meant that the fourth quarter has now received an extra boost of the season. However, the development of new games for this period has been, and is, a bit more strenuous because you want games that work on all consoles. A clear proof of this has been Cyberpunk's problems with the old consoles. Despite this, Cyberpunk and newly released Call of Duty will probably lead the revenue league for games in 2020.
Looking ahead, the big question will be how much of the growth in 2020 was inflated due to us staying at home and how much of the growth will be maintained going forward. Our view is that growth will slow down in 2021 but still maintain a good level and that the new model with constant updates in the games drives increased gaming in general. The esports market will get a boost when we start live events again.
On the portfolio side, we have not made such major adjustments during the month. We have bought a little more Nintendo and cut back a little on Apple.