The Mosaic Global Fund had a -0.49% return for the month of Aug.

August came and went without much happening. The markets where neutral across the board with US and European Stocks moving sideways. Bonds drifted lower with Emerging markets showing some further signs of strengthening and ended the month on a positive note with also bonds in Emerging markets moving higher. Commodities where on a roller coaster intra-month but ended up mostly flat for the month. Gold lost some ground and is starting to show some weakness after a strong up move starting back in January.

The Mosaic Global Fund posted a slightly negative month with the slightly stronger European stocks in the portfolio could not offset a weaker US stock market and also the weakening in bonds.

Please reach out to us on this email info@cardeainternational.com, or give us a call on +352 202 033 27, to find out more about the Mosaic Global Fund and how the Fund is managed with our Trend and Momentum Filters. We look forward to speaking with you soon.

To Your Investment Success!

Per-Olov Jansson & the Cardea Investment Team

www.cardeainternational.com

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