During the month of April the USD-S-Class has gained +2.7%. The 2021 year-to-date performance is at +13.3%. The annualised return since inception now stands at +19.42%.
Investors spent much of April grappling with two competing dynamics: signs of a strong economic rebound, particularly in the U.S., and worsening Covid-19 cases elsewhere in the world that threaten to hamper the global recovery. Robust corporate earnings helped major indexes hit records throughout the month. At month end investors eyes were on the FED meeting. As transitory higher inflation rates will be accepted, the Fed has decided to keep its ultra-easy monetary policy unchanged. Transportation stocks have shown strength. The price of Brent Oil has increased from $ 63.50 to $ 67.25$ per barrel. Capesize-Rates have rocketed from $18k/day to 40k/day by month end. Strong Asian gas demand has led to an increase in LNGC spot freight rates from $33k/day to $66k/day. The SCFI Containerized Index has increased by 15% throughout the month. Dry bulk and container names have shown strong returns whereas the tanker segment was slightly negative. Hedging positions have contributed negatively.
For more information you can find our latest Fact Sheet – April 2021.
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