The Auspice Diversified Program gained 4.19% in December to be up 24.76% in 2014. This highlights the non-correlated value of this absolute return strategy in the face of traditional asset volatility.
The Auspice Diversified Program gained 7.05% in November. While equities charged higher during the month, the volatility in other asset classes provided opportunities and low correlation. The strategy is up approximately 19.74% year to date.
The ABCERI was flat in October while commodities continue to sell off. After exiting remaining exposures in September, the strategy is on the sidelines.
The ABCERI lost 1.64% in September as commodities eroded sharply. We have exited remaining exposures to be flat. The last time this occurred was in the fall of 2008.
Fall began with increased volatility across financial and commodity sectors. While this is consistent with the opportunities we have seen since late May, the trends and ability to participate in them greatly improved.
The Auspice Diversified Program gained 3.92% in August as volatility moved beyond Equities. The strategy gained 6.20% in the last 3 months while global equity markets are having mixed results, highly influenced by market and geography.
While the Auspice Diversified Program was virtually flat on the month, off approximately 0.40% in July, the month was anything but boring and we are very excited about this shift. The volatility we started to see pick up in Currencies and Commodities in June moved into Equities.
July was anything but a quiet month. The volatility we saw pick up in Currencies and Commodities in June moved into Equities. The month ended with a violent sell-off in equities that wiped out the gains for the year of the Dow Jones Industrial Average.
The ABCERI gained 1.03% in June as select commodities pushed higher. However, the upside was not universal, illustrating the benefit of the tactical long-flat approach the strategy uses.
June was an interesting month. If we look beyond equities we saw volatility pick up. While volatility remains low overall (specifically in Equities and Interest Rates) Currencies and Commodities experienced higher volatility during the month.
