July 2016: Altaica Alpha Strategies Fund: +1.69%

By August 24, 2016Altaica Alpha Strategies

July started mixed. The first weeks CTA strategies faced difficult times. This changed in the second half of the
month when markets picked up momentum. At the end of the month most of our CTA investments posted
good positive returns.
In the Long/Short equity basket the returns showed less stability. The European Long/Short performed pretty
well, at the opposite APS Asia Pacific Long/Short lost almost 2%. The last fund was just reduced in weight
during a rebalancing of the portfolio last month. We reduced the APS Asia Pacific position just before the
draw down. With Twin Offshore we strengthened our Event Driven allocation. Both Event Driven funds, Third
Point (+6.5% and Twin Offshore (+4.02%), performed excellent. Making the Event Driven Strategies the best
performing strategy during July.
In total the rebalancing operation didn’t cost any performance. We rebalance the portfolio every year
between April and June, our statistical research proves that this is the period of the year in which the
rebalancing operation does have the lowest impact on the returns of al periods of the year.
We are happy to see that over July all building blocks of the portfolio contributed to the positive return of
1.69%. The continuing of the trends and the improved momentum in many markets gives us confidence for
the last part of the year.