The BlackRock Asset Allocation Alpha Fund (Class D) was up +1.85% in February, the seventh consecutive month the Fund has recorded a positive return.
This result brings the Fund's three month return to +4.86% and 12 month return to +29.76%. The main driver of returns was the Fund's equity/cash strategy - short positiions in US, German and Australian equities, while currency strategy (incorporating short positions in AUD and NZD) detracted from performance. The manager continued to favour a risk averse stance, focusing on short equities (48% of portfolio risk), long bonds (33%) and short commodities currency strategies (14%).
