The BlackRock Asset Allocation Alpha Fund (Class D) returned +1.30% in January, increasing the Fund's three month return to +9.74% and 12 month return to +36.87%.
The Fund, which utilises a tactical asset allocation strategy to exploit trends, mis-pricing opportunities and likely developments in global asset markets, achieived positive returns from almost all positions. These included commodity/currency (long gold vs Euro), bond/bond (primarily long term in Australian vs US 10 year) and equity/cash (short US equities) positions. The only negative influence on performance were bond/cash positions (mostly long in US 30 year bonds vs short on Australian cash rate futures).
