The manager noted caution regarding the outlook for the world's economies, and this view is reflected in their exposure to equities in general. The manager also noted concerns surrounding the sustainability of the stimulus-infused Chinese economy, which combined with a further deterioration in Global economic trade saw commodity markets weaken.
1 year return: +19.17%. Annual (Feb.2006): +17.2%
Apeiron's positioning at month's end was long USD/JPY, Wheat, Gold and Natural Gas, and short the S&P500 and SPI200.
Apeiron utilises strategies in futures and foreign exchange markets and generate forecasts within a discretionary based framework while managing risk with a quantitative capital allocation model. The manager defines investment themes within a fundamental economic framework, and within these themes looks to identify markets that are over or under valued.
These strategies have returned Apeiron's investors an annualised return of 17.20% since inception in February 2006, with a monthly win/loss ratio of 68%.
