December 2019: Altaica Alpha Strategies Fund: -0.01%

By februari 7, 2020Multi Alpha Strategies

December’s strategies performance was quite diversified. CTA’s and Equity related investments performed positive, Global Macro and the other strategies suffered losses. Overall we ended up with a small loss of -0.01%. For the year 2019 the result was positive and almost +2%. CTA’s was the best performing strategy. Two CTA managers were top performers of the month with profits of +5.6% and +3.8%. There were also two of them ending December in the red. Over the year the performance differences were even more spectacular; the best performing CTA of 2019 won more than 30% and at the other end of the spectrum there was a manager with a loss of more than 11%. Within Global Macro, our largest position was the position with a loss of almost -4.5% over December, where this manager gained more than 31% over the year 2019. The other manager produced a small profit, not enough to offset the December loss of the other manager. The equity part of the portfolio is taking a much larger position in the portfolio. Two of the Equity managers in our portfolio performed well with returns of +3.6% and +1.4%. The other two ended the month in the red with small losses. During December there was a rise of the interest rates. This impacted the Credit strategies. Both of them suffered small losses of -0.6% and -0.4%. In the other strategies the losses were mainly caused by the Crypto Currencies positions in this part of the portfolio. Changes made during the end of 2019 makes the portfolio better aligned with market trends. We expect that the portfolio composition will be able to increase the performance potential of the portfolio. We expect this especially from the addition of more equity related positions. At the moment we are reassessing the weaker performing strategies of 2019. Also the Credit positions are under review. This because of the major interest rate movement in 2019. We don’t expect such a directional market during 2020.