Category

Multi Alpha Strategies

February 2016: Altaica Alpha Strategies Fund: +2.68

By | Multi Alpha Strategies

We were able to deliver a solid performance of 2,7% over February 2016. The fund proves to be able to fulfil its promise of uncorrelated performance. This unless the strong recovery in the last weeks of the month. We outperformed every benchmark in 2016 with strong numbers. Compared to the global equity market the Altaica Alpha Strategy Fund realised an outperformance of 11%. Although this is not the most important number to us, we are proud that we outperformed the Barclay Hedge Index by 6% and the Barclays CTA index by  0,3%. When we compare the CTA selection of the fund portfolio to the Barclay CTA index the numbers are even stronger, 4,9% (fund) against 1,65% (Barclay CTA Index), an…

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January 2016: Altaica Alpha Strategies Fund: +0.42%

By | Multi Alpha Strategies

January 2016 was a good month for CTA / Managed Futures managers. The equity markets had one of the worst starts ever and commodity markets also faced significant losses (again). In these markets with clear downtrends the CTA / managed futures strategies normally perform well. We as manager of the multi strategy fund with a +50% allocation to those strategies regret the recovery in the last trading days of the month: both oil price and equity markets had a sharp recovery. Oil moved up from the bottom by 20% and the equity markets regained a 4%. This had is impact on some of our greatest performing positions: their intra-month results came down from almost 20% to a more modest average…

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December 2015: Altaica Alpha Strategies Fund: -3.09%

By | Multi Alpha Strategies

December was a challenging month for investors, markets jumped up and down. Both CTA/Managed Futures Funds and Equity Long/Short Funds were hit by this. The two best performing funds of November performed the worst in December, with both double digit losses. Next to this the USD dollar had also a negative impact on the portfolio. The negative performance of two funds, described above, were not compensated by profits of reasonable size of the other funds. Over the period the fund started, 1st of August 2015 till now, we outperformed both the local stock market index, AEX, and the Barclays Hedge Fund Index. But not our initial benchmark, the Think Market Neutral ETF. With regards to the AEX and the Barclay…

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November 2015: Altaica Alpha Strategies Fund: +1.28%

By | Multi Alpha Strategies

Every sub strategy added more than 3% in November to the result, except the currency hedge, on which we lost 4%. The different CTA funds in our portfolio performed quite differently from each other. The star performer was again Tulip Trend with 19.4%. In the same time another CTA manager lost almost 2%. Tulip Trend benefitted from the downward trend in prices of basic materials. Our Equity Long/Short positions performed all in a good way. Two of the funds were capable to gain almost 6%. In the first week of December the results are more mixed. Volatility of the markets is again high and the market recovery was brutally broken by the speech of Draghi . The influence of falling…

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October 2015: Altaica Alpha Strategies Fund: +0.20%

By | Multi Alpha Strategies

October 2015 proved the importance of a well-diversified portfolio of hedge funds. Some funds performed really good while in the same time other funds with almost the same investment strategy lost significantly.  In general the Long Short Equity funds with a long bias contributed the most to the positive portfolio result. The CTA fund results showed far more differences in results. The markets changed several times from direction, extremely challenging for trend following programs.  The largest position in the fund, Windmill Evolution, lost almost 3%. The star of the previous month, Tulip Trend, lost almost 7% in October after gaining 14% in September. For the end of the year we expect to be fully invested. At the moment we are…

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August 2015: Altaica Alpha Strategies Fund: -3,71%

By | Multi Alpha Strategies

Until the Black Monday of August the results of the portfolio were promising. Especially the long trend following funds could make profits in the turmoil in the stock, bond, commodity and currency markets. Unfortunately in the last week the best positions became the worst. This because of the huge rebound of almost every investment. The biggest loss was caused by Tulip Trend, this long term CTA performed in July 20% and lost in August almost the same percentage. The extreme intraday movements were killing the results of almost every active managed futures fund. We saw losses in the whole spectrum of hedge funds. For the coming months we expect good returns because the rebound momentum is coming down. Stock markets…

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July 2015: Altaica Alpha Strategies Fund: +0,22%

By | Multi Alpha Strategies

The month of July 2015 was dedicated to get the fund started. The Lyxor Hedge Fund Index (benchmark of our fund) gained 0,7% in July. The gains came from CTA and Global Macro Strategies. After a rough second quarter for CTA strategies July became more trending month for quite some markets. Especially the short positions on commodities are contributing to their performance. We saw losses in the Event Driven and Fixed Income strategies. Their stakes in oil- and mining companies are hurting their returns. Long/Short equity had neutral performance, however there was a wide diversification between the different mangers. Asia-Pacific oriented strategies faced headwind from China’s volatility. Pure market neutral funds also lost some money, the managers in Europe and…

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