Please click on the link above to view the May Monthly Report for the ‘C8/GreenBlue  Good Governance US Equity L/S Certificate’, that we are forwarding on behalf of the issuer, Cirdan Capital.

‘There were further gains in the Certificate in May, rising by 1.7%, as the ‘Good Governance’ premia continues to benefit from large position unwinding in the US equity market, this time in ARK ETFs.  The Certificate is up 6.0% in the year to May.

Looking at the underlying equities, strong results from Gartner, corporate advisory, was the largest positive contributor with Snap-On Inc not far behind. Both are beneficiaries of the re-opening of the US economy.  On the counter side, HP was hit, and Apple to a lesser extent, as this reopening is expected to reduce PC and printer sales.

In terms of the overall portfolio leverage, this rose from Long/Short 225/185% to 230/190%, as market volatility fell back, just above the long-term average leverage of 215/175%.’

Thanks for reading,

The C8 Team

Other posts

Trump and April Tariffs – Will He or Won’t He?

BY TEMATICA
Let's game it out... Read more →

C8 Bulletin: MI2 Joins C8 Studio

BY JON WEBB
The C8 Bulletin is back after a summer break, and we are delighted to announce that Macro Intelligence 2 Partners have added their Macro Alpha index to C8 Studio.  The Macro Alpha strategy is deeply rooted in MI2's macroeconomic insights. These directional strategies encompass a broad range of asset classes. The strategy aims to optimize risk-adjusted returns by dynamically-adjusting portfolios based on changing macroeconomic conditions. Taking three of our Global Macro contributers (including MI2), combining using our proprietary Tactical Asset Allocation, would have produced a 24% annual gain with 11% volatility and, notably, a 40% negative correlation to the S&P over the past two years. Read more →

January 11: This Week’s Thematic Reads

BY TEMATICA
If you missed out on this week's signals, we've got you covered. Read more →
Back to all posts →