“The month of May was profitable for the ATP subfund M earning +0.41%. Even though the return is moderate it is pleasant that the fund continues its positive streak with seventh month in the row being profitable. The result of May appears even better in the context of world financial markets. With the trade war escalating even further between US and China, also never-ending Brexit chaos still going on, investors had few safe havens during May. US stock indices slumped 6 to 8 percent. Major European stock indices fell 3 to 5 percent. Asia and technology sectors dropped even more. S&P commodity index tumbled -8.7%. Crude oil can be attributed most of the responsibility for the commodities performance with its value declining more than 10%. Even though the stock markets lost significant share of their value the precious metal sector did not show any notable gain. It seems that the only asset class which profited during May was bonds.
The biggest profit by the fund was made trading bonds (+0.63%) and metals (+0.34%). Notable loss was taken in energy (-0.46%) and agriculture (-0.21%) sectors. Other asset classes did not impact results significantly. It can be seen that bonds was the most profitable sector during the last few months. This can be explained by its bigger proportion in allocation when compared to other traded sectors (see page 2 of factsheet). Best individual results was shown by copper and platinum (+0.39% and +0.2% accordingly) also 10, 5 and 30 year US bonds (+0.26%, +0.18% and +0.17%). The biggest loss in individual instruments was from Brent oil (-0.36%) and 2 year US bonds (-0.26%).”, – commented fund manager Dr. Aistis Raudys.
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