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A. Managed Account
Managed Account | Weekly | MTD | YTD |
FCI | 2.72% | 3.69% | 17.18% |
White River | 3.47% | 3.52% | 3.34% |
Global Ag | -1.13% | 4.84% | 6.11% |
DCP | -0.58% | 3.28% | -8.82% |
SIHA | 3.12% | 3.00% | 5.76% |
Kingsview | 0.30% | 3.36% | 5.42% |
Opus | 1.20% | 5.37% | 21.68% |
FCI:+2.72%
After reaching a recorded high of US$ 7.8375 on Monday, buying of recent month corn futures became weak. There was a turnaround for the rising corn price. Long corn spread established by FCI earlier was about to mature on Thursday. Strike price was far away from market price and not affected by the consolidation. Opportunity for full payment was high. The manager’s perspective towards soybean futures continued to be bullish. Long spread continued to be increased last week. With passage of time, premium income was stable during narrow market consolidation. In addition, gold and heating oil contract will mature soon next week. The manager continued to find appropriate subject for entry. Within just a few trading days, profit for long crude oil layout established on Wednesday was good. FCI estimated weekly net value increased by about 2.72%.
White River:+3.47%
WR May Soybean option contract sold will mature on Thursday. Call option sold above 125 points earlier were all mature without strike value and achieved considerable profit to the investment portfolio. The trade confirmed once again the manager’s mastery of short-term market fluctuations so that the strategy maintained stable long-term returns.
Global Ag:-1.13%
Corn, soybean and wheat prices fell last week. Corn price was still relatively strong and not far from the recorded high last week. Soybean lacked of rising strength and fell into adjustment interval while wheat was weak. There was concern for further downward revision. Although future spread was adopted, the layout of corn was slightly bullish and slightly bearish for Soybean. Layout for wheat was bearish but the allocation was very low. Profit from soybean can offset the loss from corn in last week’s market. The investment portfolio fell by about 1 %.
DCP:-0.58%
Oil and gold price fell back early last week. In order to avoid risk to expand, the manager started loss stopping mechanism and settled crude oil call option position and decreased long gold futures and focused on the rising oil and gold price at the end of the week. The exposures were still the focus of DCP operation. In addition, the manager increased foreign exchange layout including the euro, Japanese yen, Australian dollar and sterling. Other than Australian dollar, there was consolidation or reversal in most of the markets. In bond, the manager sold le type plus 30 year long bond and put 10-year treasury futures and increased profit opportunity for the portfolio.
SIHA:+3.12%
S & P 500 index fell back after high point and maintained at 1300 points steadily. Short-term pressure was on the first wave of 1344 points and was supported between1300 points and 1270 points half year line at the bottom. Contracts sold by the manager were outside this price range. The recent volatility index decreased which was very conducive to the use of the strategy. Performance was thus significantly increased.
B. Featured Multi Manager CTA Fund
Featured Multi Manager CTA Fund | Weekly | MTD | YTD |
Skandic | 0.04% | 6.05% | 13.53% |
Skandic:+0.04%
Energy, index and the bond market rose again after a slight concussion last week. Gold hit a record high on Friday. Multi-strengths for rising price had not slowed down. In agricultural market, there were a lot of adjustments for soybeans, wheat and corn last week which affected Skandic’s long exposure. The manager immediately carried out hedging and partially adjustment action. Loss has been gradually reduced. Performance in precious metals and energy was good. The estimated weekly net value would grow slightly.
Please note that the relevant performances provided are merely indicative and are updated weekly.
Important Information: This update is intended for information purposes only and does not constitute investment advice. The programmes mentioned herein may not be registered or authorized in both Hong Kong and Singapore for public offer, and therefore may not be available to investors who do not meet the respective jurisdictional requirements. The information is not an offer to sell or a solicitation of an offer to buy any interest, or to open accounts with any of GCS’s range of managers. Any such offer or solicitation may only be made pursuant to the applicable laws and regulations of the relevant jurisdiction. The performance noted are indicative and updated weekly. Performance shown is net of fees.