The month showed mixed performance across sub-strategies with CTAs again underperforming posting a loss of 3.1% (-5.9% YTD) while fixed income strategies continued to shine gaining an addtional 0.6% and thereby enhancing its position as the best performing strategy on the year (+5.3%). Among the other strategy groups, equity and fund of funds lost 0.3% and 0.6% respectively while multi-strategy funds were more or less flat.
Among individual winners, the healthcare-focused long/short equity fund from Rhenman and Partners, Rhenman Healthcare Equity L/S, bounced back from the losses experienced in May and added 9.8% on the month. Max Mitteregger´s Gladiator fund continued to shine as the manager added 3.6% marking the eighth consecutive month of gains. The fund is up 12% on the year, adding to a 14.5% gain in 2016.
The month´s losing funds were entirely dominated by the CTA category with industry giant Lynx posting one of its worst month since inception (-6.9%). Estlander Alpha Trend II (-6.9%) and the RPM Evolving CTA Fund (-6.7%) were other notable losers during the month.
The full monthly report can be accessed below:
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