June 2024 NewsLetter
Management comments
For the first time this year, the strategy posted a gross loss of -0.65% in June. Historically, the strategy experiences 2-3 unprofitable months per year. Despite this, the month started well, with a 4% profit accumulated over three weeks and confident trading at 120% gross exposure. Identifying strong momentum in stocks like NVDA and some others, the strategy entered long positions on June 20, but a swift market reversal forced a significant loss that day. A similar market reversal occurred on June 28, repeating the scenario.
In June, the strategy underperformed compared to the EurekaHedge North America Long Short Equities Hedge Fund Index, which reported a positive return of 0.17% (as of July 7, 2024). However, the strategy continues to deliver over twice the year-to-date performance of the benchmark.
Assets under management remain steady at around USD 17 million.
Last Month
The 5th of June stood out as the most lucrative, with a daily return of 2.96% gross. Conversely, 2 weeks later, the 20th June was marked as the least favourable, recording a daily loss of -2.66%.
YTD
January recorded the highest gross monthly return at 5.68%, while June marked the first month with a negative return of -0.65%.
The full Newsletter can be found here: ARQuant Newsletter 2024-06
Warning: Past performance is not a guarantee or a reliable indicator of future results. All investments contain risk and may lose value. Investing in foreign denominated and/or domiciled securities may involve heightened risk due to currency fluctuations. Currency rates may fluctuate significantly over short periods of time and may reduce the returns of a portfolio. Derivatives may involve certain costs and risks such as liquidity, interest rate, market, credit, management and the risk that a position could not be closed when most advantageous. Investing in derivatives could lose more than the amount invested. Diversification does not ensure against loss. There is no guarantee that these investment strategies will work under all market conditions and each investor should evaluate their ability to invest for a long-term especially during periods of flat market or downturn in the market.