Stockholm (HedgeNordic) – Swedish CTA Lynx had a massive month in June, gaining 10.3 per cent, early estimates on the Brummer website show. This brings year-to-date returns to 10 per cent.
As already indicated earlier in the month, CTAs showed signs of benefiting from long bond positions, short GBP and from long precious metals positions in the aftermath of the Brexit vote. The positive development seemingly continued into the final stretch of the month, despite equity markets rebounding towards month-end.
The strong returns made by Lynx in June puts the manager well ahead of global competition with the Barclay BTOP50 Index (where Lynx is one of the constituents) gaining 1.9 per cent on the month bringing year-to-date returns to a negative 1 per cent.
Lynx helped push the Brummer Multi-Strategy fund to gains of 2.3 per cent, ending a five month stretch of negative numbers.