May 2019: Altaica Global Sustainable Long Short Equity: -8.10%

The markets made a downturn during May 2019, this after two positive months. The president of the USA, Mr Trump was the cause of the misery. He reignited the tensions of the trade war with China and reopened the trade war with Mexico. This in combination with the blacklisting of Huawei, real war tensions with Iran and a more gloomy scenario for BREXIT took away the positive market sentiment. The fund lost 8.10% of its value. This is a 3% more as the Think Sustainability World UCITS ETF, mainly caused by the leverage that we use. At the end of the month we brought down the leverage from about 64.5% to 38.6%. In summary, since the start of the fund we still outperform our benchmarks.