C8/GreenBlue Good Governance US Equity L/S Certificate up 1.7% in May

C8/GreenBlue Good Governance US Equity L/S Certificate up 1.7% in May 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…
BY JON WEBB

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

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