The Absolute Macro Diversified Fund was up +8.19% in April (USD class) on the back of gains of almost +20% in Asian markets (ex Japan), India in particular performing strongly.
Energy commodities also contributed strongly to overall performance. The only negative return came from gold, which was down -3% for the month. The manager anticipates however that the US dollar will weaken in coming months, which will ultimately cause gold prices to rise. The Fund has substantially increased its exposure in recent months, however its allocation to 'risk' assets is now near maximum preset levels.
Absolute Asset Management's other funds, the Absolute Trading 1 Fund and the Asian REIT Property Fund, also enjoyed positive returns in April (+2.48% and +2.4% respectively).
