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Altaica Sustainable Equity Long Short

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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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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November 2018: Altaica EUR-Asia Emerging Fund: 1.09%

By | Altaica Sustainable Equity Long Short

November ended in a positive way with a gain of 1.09% for the fund. There was a lot of diversity in the development of the equity markets in Eur-Asia during November 2018. The best performing market was Turkey with a gain of more than 12%. Second best was India, this market won almost 6%. All other markets ended in the red. Our positions in China were loosing about -1.5%. Half of our investments in China were allocated to the CSI500 index. This small cap index performed relatively well with a small gain of 0.1%. The investments in Chinese large cap equities performed considerably less good with a loss of about -3%. Russia, with a monthly result of -0.2% performed slightly negative….

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October 2018: Altaica EUR-Asia Emerging Fund: -4.42%

By | Altaica Sustainable Equity Long Short

During October the stock markets suffered from severe losses, also the Emerging Markets. Due to that we cutted down most of our exposure we were able to limit the damage to -4.42%. There were three positions left in our portfolio at the end of the month. The China small cap position was hurted the most, -9.2%. Also Russia was not able to escape from the market correction and lost 2.7%. The surprise came from Turkey. This market was heavily hit during the summer months. It started its recovery one month ago and could also deliver a small positive return during October of 0.34%. We expect to build up positions quickly in November. The sentiment in the Emerging Markets is turning….

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September 2018: Altaica EUR-Asia Emerging Fund: 2.43%

By | Altaica Sustainable Equity Long Short

During a couple of disastrous summer months in which the Eur-Asian Emerging Markets suffered severe losses. September gave us hope with good recovery rallies. The portfolio gained 2.43%. The heavily hit Turkish equity market showed an impressive +16%. Second best was Russia with a gain of about 5%. The Russian equity market could benefit from a rising oil price. Next to this the weakening Rouble and so a strengthening of the USD is great for Russian companies who are engaged in commodity markets like oil, steel and wheat.China was also performing well with +2%. Only Eastern Europe lost a bit with -0.2%.We enlarged our Turkish position as well the position in the Chinese equity markets. We are back in Russia…

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August 2018: Altaica EUR-Asia Emerging Fund: -7.14%

By | Altaica Sustainable Equity Long Short

August turned out to be the most devastating month of the year fort he Eur Asian Markets. The losses in the Turkey equity market were dramatic, a loss of about 30% within one month. The second market which was under pressure was China, the trade tariff war with Trump keeps investors worried and this market lost about 3%. We see huge potential for both Turkey and China, these markets are totally undervalued. Both have their own specific opportunities and weaknesses. The Chinese economy does have a strong leadership and economy. Finally the trade dispute will be settled with the USA, after this investors will recognise that the latest market correction made the Chinese equity markets well priced. The Turkish economy…

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July 2018: Altiaca EUR-Asia Emerging Fund: +1.24%

By | Altaica Sustainable Equity Long Short

During July the positive momentum for the Emerging Markets returned. We took a little leverage to profit from this sentiment. Especially Eastern Europe performed well with more than 8% return on this part of our portfolio. This was also our largest position. Next to this also India performed well after we returned to this market. Russia was slightly positive during June. The combination of sanctions and negative press in the world still makes this market seen as high risk. At the other side there is China and Turkey. The full blown trade war between the USA and China is hurting the equity markets of China. After decades of tremendous growth and also growing trade surpluses in combination with aggressive industrial…

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June 2018: Altaica EUR-Asia Emerging Fund: -3.98%

By | Altaica Sustainable Equity Long Short

A devastating month for the Emerging Markets. Eastern Europe (-11,2%), China (-9,1%) and Pakistan (-7,99%) were leading the pack. The other countries performed a little less negatively. Turkey (-2,47%), India (-1,88%) and Russia (-1,3%) were the best performing markets in our portfolio. We are confident with our positioning. Firstly our 20% allocation to cash preserved the portfolio for more heavy losses. Russia, the largest allocation in our portfolio, apart from the cash position, was also able to stay more or less stable. For Russia we see a huge potential. This, due to the rising oil price in combination with a higher production level, according to the latest OPEC decision, will stimulate the economy. The strengthening of the US Dollar is…

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