Global Allocation December 2016 Commentary – Up 13% In 2016

Global Allocation December 2016 Commentary – Up 13% In 2016

Global Allocation commentary for the month ended December 31, 2016.

2016 Hedge Fund Letters

We have just finished 2016 with a reasonable return, tilted to good, even though December was not outstanding. Let´s exercise our memory.

Qualivian Investment Partners July 2022 Performance Update

stocks performance 1651757664Qualivian Investment Partners performance update for the month ended July 31, 2022. Q2 2022 hedge fund letters, conferences and more Dear Friends of the Fund, Please find our July 2022 performance report below for your review. Qualivian reached its four year track record in December 2021.  We are actively weighing investment proposals. Starting in November Read More

If we can highlight something about this year is that is has not been a linear year at all. Moreover, we have witnessed some quite volatile moments, even extreme at some points. Thus, we started the year with a huge collapse in commodities´ prices, with affected mostly to emerging markets and was very close to become a genuine credit crisis. And the banking sector in freefall (Bank Index has been losing more than 40% at some point during the year), due to negative interest rates, provoked by Central Bank´s new experiment, which made impossible to obtain any return from the so called “risk free” investments.

It has also been the year when “Populism” has entered the “First World”, name it “Brexit”, Trump´s victory and in general the surge of less traditional political parties, both from the extreme right and left. We expect this tendency to continue into 2017, with elections being held in France, Italy and Germany.

We were generally right in our assessment of the market at the beginning of the year and also in the recovery since mid-February. Not that much in the interest rate space, where we introduce a short position quiet before yields started to rise. It took long and made us suffer more than expected. As well, we were long the banking sector way in advance the sharp movement upwards (at the beginning of the year we were short banks). In total, both the short and the long position in the banking sector have been the best performers for us this year, but not exempt from some suffering.

We have been right in our assessment of the Trump´s victory, even though our view was completely contrarian