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Opalesque Exclusive: Mulvaney`s Global Markets fund recovers, up 28.86% in February due to rally in commodities, 56.76% YTD
Opalesque received an investor communication announcing that Mulvaney’s Global Markets Fund had advanced 28.86% in February fuelled by a broad, powerful rally in commodities. The most profitable sector was grains, where demand continues to grow despite the massive surge in prices. The last decade has seen the biggest grain price shock in living memory, but the peak-trough multiples of this episode are still some way below extreme levels reached in the 17th and 19th Centuries. Unlike financial assets, readily available supplies of many commodities can be exhausted, with unbounded implications for prices. Forex, interest rate and stock index trading made scant contribution to this month's profit and loss, but implied volatility levels suggest markedly increased anxiety.
The fund was launched in March 2002 and returned -23.14% in 2007, its most disastrous year.
Investment Strategy:
The Mulvaney Capital Management Global Diversified Program is a long term systematic trend following program, covering the major financial and
commodity futures markets worldwide. Program returns have historically exhibited low correlation to traditional stock and bond markets. Access to the Program is available to qualified persons or entities only via The Mulvaney Global Markets Fund (minimum $100,000) and managed accounts.
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