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Multi Alpha Strategies

July 2019: Altaica Alpha Strategies Fund: 4.18%

By | Multi Alpha Strategies

The fund performed well during July 2019. The strategies Credit, CTA and Equity Long/Short all contributed to the result in a good way. The strong performance of the Credit strategy was mostly driven by one fund which was able to gain more than 12.4%, and overall our Credit positions did relatively well. Within the CTA positions there was more diversity. The two top performers of July generated gains of +18.2% and +16.1%, respectively. Additionally, some of the funds couldn’t take advantage of the market conditions; one of them was even on the losing side. The Equity Long/Short strategies generated mixed results. The European Long/Short fund performed well but the other one ended up in negative territory. We closed the Private Equity…

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June 2019: Altaica Alpha Strategies Fund: 0.81%

By | Multi Alpha Strategies

June was a relatively friendly month for most of the strategies. Both CTA and Equity Long/Short strategies performed well. Within the CTA’s there was a rebound of one of the strategies that suffered the most during the last 8 months of the violent market situations for CTA’s. This particular CTA gained more than 10%. All three Equity Long/Short positions performed well but not extraordinarily. We will sell the Private Equity allocation. The valuations are a bit high and in our expectation the strategy will suffer the most during a correction. Therefore we are looking for a substitute that offers exposure to the illiquid real estate markets. Also the Credit strategies contributed to the positive performance, however one of the top…

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May 2019: Altaica Alpha Strategies Fund: -1.91%

By | Multi Alpha Strategies

During May the world equity markets faced a serious correction of about -5.7%. Bond markets got the impact of the market turmoil and served as a safe haven. Hedge funds performed better than equity markets by lower negative returns. Altaica Multi Alpha Strategies lost almost 2% of its value during this volatile month of May. The fund demonstrated to behave as a well-diversified portfolio. The dispersion in performance between the different strategies and also between funds within one strategy category was again considerable. Only Global Macro ended up in the black. Equity Long/Short performed poorly. When we focus on the main strategy of the fund, Managed Futures/CTA the diversity in returns was huge, ranging between +2.51% and -12.16%. Overall we…

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April 2019: Altaica Alpha Strategies Fund: 2.38%

By | Multi 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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March 2019: Altaica Alpha Strategies Fund: 2.02%

By | Multi 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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February 2019: Altaica Alpha Strategies Fund: -0.24%

By | Multi 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 Alpha Strategies Fund: -4.02%

By | Multi 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 | Multi 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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November 2018: Altaica Alpha Strategies Fund: -0.68%

By | Multi Alpha Strategies

November didn’t give the opportunity to our Hedge Funds to recover, we ended November with a small loss of -0.68%. The total performance was slightly influenced by some headwind of the US Dollar. During November almost all strategies gained a little, except Global Macro. One of our two Global Macro strategies suffered a big loss of -16.4%. This resulted in a loss for the Global Macro managers of -8.3%. This was the main event in the portfolio development. Within the CTA managers there was a lot of diversity in performance. Some of them won more than 4% and one other lost almost -4%. Together they produced a solid 0.6% gain over November.   

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October 2018: Altaica Alpha Strategies Fund: -4.55%

By | Multi Alpha Strategies

The solid and positive development over 2018 was roughly interrupted by October. The month result of -4.55% was an unpleasant surprise. The pain came from the CTA / Managed Futures managers. As category they lost almost 9%. For the CTA managers it was the worst month in almost a decade. Also the Equity Long/Short managers were on the losing side, together they lost almost 5% of their value. Our Global Macro managers proved their value by gaining 1.3%. Also our Credit managers are doing well with a small positive return. One big asset also moved in our advantage, the US Dollar won 2.7%.

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