Most equity markets have shown a solid performance during the month of September. After the drone attacks on the Aramco oil refinery in Saudi Arabia oil prices have shown a brief spike up to a level of $ 70/barrel (Brent). Subsequently, tensions in the Middle East have eased. Although the price of Brent oil has fallen back to $ 61/barrel at the end of the month, energy stocks have shown a strong recovery. VLCC-rates (Very Large Crude Carriers) have rallied from an average of 33k/day in August to 71k/day by the end of September. The large tanker operators have led the advance within a strong shipping segment. The overall positive monthly performance has been lowered by hedge positions as well as individual short positions in the aviation segment.
More detailed fund information can be found in the attached Factsheet September 2019.
During the month of September the fund has generated a performance of +1,04% for the USD fund seeders share class and + 1,86% for the EURO fund seeders share class.
The overall fund performance since inception on the 22nd of May was at -1,33% for the USD fund seeders share class and +0,99% for the EURO fund seeders share class.
Seahawk Investments GmbH