April update

BY WILLEM VINKE

23 May 2018

BY WILLEM VINKE

In April, NYMEX WTI CRUDE rose 5.59% to finish at $68.57. At the same time, the US 10y treasury yield increased by 7.82%, closing the month at 2.9531.

The German 10y treasury yield rose by 12.51%, finishing at 0.559%, while the Swiss 10y treasury yield increased by 224.57%, closing at 0.088%.

Throughout the month, the UK 10y gilt yield increased by 5.03% to finish at 1.418%. Gold decreased by -0.76% to finish at $1,315.39, with silver declining by -0.22% to close at $16.3318. In April, the Euro weakened against both, the US$ (down 2.00%) and the sterling (down 0.18%), finishing at 1.2078 and 0.87754 respectively.

STRATEGIC EUROPE VALUE FUND

The Fund* returned +3.06% in April. Energy, Telecoms & Consumer Discretionary were the best performing sectors in the benchmark, whilst the worst performing were Consumer Staples, Healthcare & Industrials. The Fund’s top performing stocks were Wirecard, Safran & ASR Nederland, whereas the worst were Philip Morris, Orkla & Reckitt Benckiser.

* EUR I Class

STRATEGIC GLOBAL QUALITY FUND

The Fund lost -0.75% in April. Energy, Utilities & Consumer Discretionary were the best performing sectors in the benchmark, whilst the worst performing were Consumer Staples, Industrials & Technology. The Fund’s top performing stocks were Wirecard, Safran & McDonalds, while the worst were Philip Morris, Clorox and Altria.
 
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The views and statements contained herein are those of Lofoten Asset Management in their capacity as Investment Adviser to the funds as of 10/05/18 and are based on internal research and modelling.

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