Global Investor sentiment has been lifted by optimism following Joe Biden’s victory in the US presidential elections and a string of positive announcements regarding COVID-10 vaccines. Especially economically sensitive cyclical stocks have been propelled when markets began looking ahead to economies reopening. Moreover, the price of Brent Oil has moved up by a mere 25% to US $ 47.51 per barrel at the end of the calendar month. In this environment energy stocks have been the strongest sector, followed by the aviation sector and the overall shipping sector. Within the shipping sector dry bulk rates have shown seasonal weakness. Crude tanker rates have continued to be soft. On the other hand, VLGC rates and the container rates have firmed-up further. SCFI (Shanghai Containerized Freight Index) had another monthly increase of 32%. The fund’s individual long positions were positive across the board. Overall hedging positions have contributed negatively. The overall fund result was strong.
For more information you can find our latest Fact Sheet – November 2020.
During the month of November the USD-S-Class has gained +37.93%. The YTD fund performance is at +7.4%.
Seahawk Investments GmbH