We are happy with a positive result 0.56%. We got a little support from the slightly strengthening US Dollar during last month.
Last month we again faced difficult time for some of our CTA’s. The worst performing manager posted a loss of more than 17%. Some this better. All together the CTA strategy lost 2.6%.
Two strategies saved the month, both Equity Long / Short and Multistrategy added more than 5% to their value. Driven by rising equity markets the long short equity managers did well. One of our Multi Strategy managers posted an outstanding result of almost 10%. This managers core focus is trading of bonds in emerged economies. His aggressive approach worked out well.