Ayaltis Funds - July 2018 Performance Estimate

 
 
 
 
 

Dear Investor,

We are pleased to send you the estimated NAVs & Performances for July 2018 with a performance of +0.57% in USD for Class B.

July 2018 Flash Commentary

Welcome to the second half of 2018! Our portfolios delivered positive returns in July in a heated yet stabilizing market.
 
A solid earnings season in the US and Europe provided an unexpected boost to many shorted stocks. The momentum reversal in equities appeared to have reached the floor. On the fixed income side, the yield curves started to steepen following good corporate numbers, but the move receded quickly. Markets are dealing with US mid-term elections, trade tariffs, Chinese stock volatility and the end of European QE. In the meantime, Emerging Markets keep selling off. The eye of the storm is in the Asian markets, including China, which registered an eight-month low in manufacturing activity in July.
 
Most of our strategies such as Event Driven, Systematic Relative Value and Relative Value Fixed Income were all positive contributors in July. The objective is clearly to be as resilient as possible while delivering a nice steady streak of monthly returns. The Event Driven space looks more and more promising and the most short-term oriented traders are capturing volatility around earnings, fully playing their role in opportunistic trading.
 
We are optimistic that the divergence of key market factors is strongly expanding our relative-value opportunity set going forward.

  

Estimate NAVs and Performance
as of July 31, 2018

July

YTD 2018

NAV

2017

2016

2015

12 Months Rolling Return

12 Months Rolling Volatility

Liquidity

PDF

Areca Value Discovery B USD

0.57%

-1.08%

124.17

7.72%

-2.57%

2.30%

2.65%

3.98%

Quarterly

Link

Areca Value Discovery B CHF

0.30%

-2.95%

115.33

5.45%

-4.56%

0.71%

-0.02%

4.06%

Quarterly

Areca Value Discovery B EUR

0.34%

-2.69%

117.34

5.99%

-4.01%

1.76%

0.50%

4.17%

Quarterly

 

 

 

 

 

 

 

 

 

 

 

Areca Azure C USD

0.73%

-0.48%

104.09

5.48%

-0.84%

-

-

-

Monthly

Link

 

 

 

 

 

 

 

 

 

 

 

Narrapuno SPC - Spectrum A USD
(formerly Acantias Offshore Fund)

0.94%

-0.89%

1,503.58

8.27%

-1.67%

3.72%

3.17%

4.53%

Quarterly

Link

Narrapuno SPC - Spectrum A CHF
(formerly Acantias Offshore Fund)

0.68%

-2.78%

1,347.12

5.53%

-3.82%

2.16%

0.08%

4.51%

Quarterly

 

 

 

 

 

 

 

 

 

 

 

This month’s cut-off date for subscriptions is 24 August 2018 at 3pm.

As always, we reiterate our gratitude for your continued trust, support and patience.
                  
Best regards,
Son Nguyen


Son Nguyen
CEO & Managing Partner

Ayaltis AG
Bleicherweg 19
8002 Zürich
Switzerland
Direct: +41 43 501 37 62
Mobile: +41 78 610 65 00
Email: nguyen@ayaltis.com


 

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