December 2017: Altaica EUR-Asia Emerging Fund: -0.66%

At the month closing the largest part of the portfolio was cash. This is to prevent the capital for the negative momentum on most of the

Emerging Eur Asian Markets. This resulted in a small negative result after closing more than 60% of the portfolio exposure.

At the end of the month we see momentum picking up. Also we see some positivity in most of the TRIC-countries and we expect to

buy most of the positions at the start of the new year.

The first market which made an impressive turn around was Turkey. This position, the largest at the moment in the portfolio, gained

almost 5% in December 2017.