Please find below our letters to shareholders

Letter #13 – April 2020

Letter #12 – May 2019

Download (FR)

Download (FR)

Letter #11  – May 2018Download (FR)
Letter #10 – November 2017Download (FR)
Letter #9 – April 2017Download (FR)
Letter #8 – November 2016Download (FR)
Letter #7 – April 2016Download (FR)
Letter #6 – November 2015Download (FR)
Letter #5 – March 2015Download (FR)
Letter #4 – November 2014Download (FR)
Letter #3 – March 2014Download (FR)
Letter #2 – October 2013Download (FR)
Letter #1 – April 2013Download (FR)