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April 2019: Altaica Alpha Strategies Fund: 2.38%

By | Altaica Alpha Strategies

In the month of April the fund gained 2.38%. Equity Long/Short strategies gained over 10% and Credit strategies rose 8.2%. As a group CTA’s generated a positive return. However, on a fund level there was quite some dispersion. The best CTA made +10.8%, while the worst lost almost 8%. Global Macro strategies didn’t perform well during April 2019. Our largest position within this strategy lost more than 2% of its value. Also in the category Other there was a loosing strategy, which was a volatility trader. We sold this position due to disappointing performance over the last 1.5 years as we want to have a volatility strategy in the portfolio that is better able at benefiting from volatility spikes in…

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April 2019: Altaica Global Sustainable Long Short Equity: 6.70%

By | Altaica Sustainable Equity Long Short

After a decent start in March the fund continued to deliver a solid performance with +6.70% during the month of April. Compared with the Think Sustainable World ETF we outperformed with a solid margin of around +2.8% for the month of April. We are confident with the current level of leverage, it was stable during April,  between 65% and 70%. The Q1 corporate result publications dominated the portfolio developments. We didn’t change the portfolio of individual shares, besides some small rebalancing adjustments. We implemented some more diversification in the portfolio by adding an allocation in sustainable equities of the Emerging Markets. We are waiting for the opening of the Japanese equity market to add even some more diversification through an allocation…

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March 2019: Altaica Alpha Strategies Fund: 2.02%

By | Altaica Alpha Strategies

Due to a strong recovery for most of our CTA/Managed Futures positions the fund gained more than 2% over March. The CTA/Managed Futures strategy won in total more than 4%. Momentum is back in most of all markets and especially in the Equity and Bond Markets. Also helping was the strengthening of the USD (1.8%) compared to the EUR. All other strategies failed to perform during March and ended up in the red. Global Macro performed the worst with a loss of 2.45% followed by Equity Long/Short strategies. The last one was the most disappointing one, while equity markets did well they ended up at the losing side.

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March 2019: Altaica Global Sustainable Long Short Equity: 4.37%

By | Altaica Sustainable Equity Long Short

We started Altaica Global Sustainable Long Short Equity Strategy on a relatively low level of leverage. In the first weeks we even didn’t take any leverage. During the month we build up the leverage up to 66%. We were able to make some market timing by increasing the leverage on week market moments. This all together resulted into a gain of more than 4% during March, by this we outperformed our benchmark by about 3%. The top performers in our portfolio were: Accenture (+8.02%), SAP (7.81%) and Lowe (+7.52%). At the other side we had also some positions which performed in a negative way; Applied Materials (-6.40%), Svenska Handelsbanken (-5.33%) and Walt Disney (-2.41%).

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February 2019: Altaica EUR-Asia Emerging Fund: 2.13%

By | Altaica Sustainable Equity Long Short

This is the last month of this strategy. Next month we will implement the new strategy. The fund also will be renamed into Altaica Global Sustainable Long/Short Equity. In February China performed extraordinarily with a gain of 19.97%. The Chinese equity market is inspired by the positive developments of the trade negotiations between the US and China. It also looks like the Chinese economy is recovering of the (unreported) recession of 2018. The tensions between India and Pakistan are still influencing the equity market of Pakistan. During February the Pakistan equity position lost 5.5% of its value. In the first week of March we will sell the China and Pakistan positions to build up a total new portfolio.

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February 2019: Altaica Alpha Strategies Fund: -0.24%

By | Altaica Alpha Strategies

The Altaica Multi Alpha Strategies fund lost 0.24% during the month of February. The CTA managers and Global Macro managers were still not able to benefit from the sharp turn in momentum in a wide range of assets. Within the CTA managers we see a wide diversity in performance. Two of our managers performed well with profits of almost +5%. However, one of the most aggressive managers performed dramatically with a loss of almost 20%. The result of February was saved by the Equity Long/Short investments. This strategy performed well with a profit of 6.16%.

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January 2019: Altaica EUR-Asia Emerging Fund: 2.07%

By | Altaica Sustainable Equity Long Short

After a turbulent last quarter we kept the portfolio in the safety mode. In total the portfolio was able to gain more than 2% during January 2019. Especially Pakistan was performing in an excellent way. The Pakistan tracker gained more than 13%, a remarkable recovery. The Chinese Mid Cap equities did also well but on a more modest pace. The CSI 500 index rose more than 3% during January.  

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January 2019: Altaica Alpha Strategies Fund: -4.02%

By | Altaica Alpha Strategies

January 2019 was a perfect copy of disaster month October 2018. Also this month we lost about 4% of the fund value due to sharp turnarounds in a wide range of markets. During December the technical patterns and momentum for the equity markets were indicating a further downturn. Also everybody was expecting a further raise of interest rates, especially given the hawkish approach of the FED. Last but not least also the commodity markets were in a serious downturn. All momentum and systematic trading strategies were positioned for the extension of the December directions of the markets. January was however a month which started with movements into different directions on the markets due to a more reasonable approach of the…

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December 2018: Altaica Alpha Strategies Fund: -0.83%

By | Altaica Alpha Strategies

During December the equity markets went down by more than 5% on average. The fund was able to limit the losses within the -1% range. The best performing strategy was Gobal Macro with a solid 2.8% gain. At the other side we find Credit Strategies and Volatility Trading. Both strategies were losing about 4% of their value during December 2018. Looking back over 2018 we started with some volatility. The second and third quarter the fund performed pretty well. This positive trend came brutally to an end in the fourth quarter. Market volatility and direction changes came abrupt and disruptive. Trend following strategies couldn’t follow and became the victims of the markets. For January we also expect that this type…

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