The Mosaic Global Fund had a -2.77% estimated performance for the month with an estimated year to date return of 4.13% for the EUR share class. Last month’s strong performers, our trend following holdings, gave back some of last month’s gains this month. Our stock market positions made gains across the board; however, could not offset the negative performance of a number of our hedge fund holdings.
During the last day of the month, we experienced trend reversals across many markets triggered by some perceived good news coming out of the EU summit. It remains to be seen if this is only more short term volatility or the beginning of a more stable move higher. We have increased our allocation towards equities, as mentioned in earlier commentaries, in anticipation of stronger markets during the second half of the year and will be monitoring these positions extra closely in the coming weeks.
We are happy to inform you that we were recently approved by the Singapore regulator MAS for distribution of the Mosaic Global Fund in Singapore. This is some very positive news. “Being approved by the Singapore MAS is further proof that we are strongly regulated and a good opportunity for IFA’s in Asia to get exposure to an ultra-diversified and truly actively managed alternative for clients.” says Per-Olov Jansson, CEO of Cardea International.
The Cardea Team
Per Olov Jansson
CEO Cardea International