BlackRock’s Asset Allocation Alpha Fund achieved a gain of 6.59% for the month bringing the year-to-date cumulative performance to positive 38.91%.
The Fund employs a global macro strategy and tactical asset allocation. The strategies adopted are thematic, concentrating on exploiting trends, likely developments and mis-pricing in global asset markets.
The Manager noted: “The strategies which contributed significantly to performance were Bond/Cash (primarily reflecting long duration positions in the UK, US, Germany and Australia); Currency (long Euro vs Polish Zloty, short Euro vs Japanese Yen, short Australian dollar and Canadian dollar vs US dollar); and to a lesser extent Equity/Equity (reflecting long US Growth vs US Value and long US large cap vs US small cap).”
