The Headland Global Diversified Fund was up an impressive +3.38% in February, after posting a loss of -1.20% in January.
The Fund's exposure to US and European government debt, weighted towards short dated (two year) maturities, provided gains as bonds rallied during February. The Fund also profited from falling commodity prices, including short positions in crude oil and natural gas. In FX markets the Fund closed its short exposure to British pounds.
