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Alternative Market Briefing

Auspice Capital soars on the commodities rally

Tuesday, May 11, 2021

Bailey McCann, Opalesque New York:

Canadian commodities shop Auspice Capital is riding the recovery in commodities to new highs. Auspice is now up 15% across its trading programs year to date through the end of April, according to a performance update for investors reviewed by Opalesque.

Auspice's positive performance builds on the momentum that started last year. The fund ended 2020 up 18.46%.

"Consensus is building around a commodities super cycle," the fund said in its update. Apart from a brief pause in March, commodities have been on an 11-month runup that looks likely to continue if prices in metals, lumber and other assets are any indication.

Notably, many investors missed out on the first year of this story. "The commodity rally was arguably one of the least participated in rallies given the prior decade's performance and confusion surrounding commodities' role in sustainable development," Auspice said. That may be starting to change now that the commodities story has made it to mainstream media sources.

Auspice's funds have been taking advantage, however. Auspice Diversified Fund, the flagship strategy, gained 4.61% in April, and is now up 16.62% YTD. The sector benchmark Barclays BTOP50 CTA gained 2.84%, and is now up 5.58% on the year, but lags Auspice Diversified by over 10%. The strategy is a rules-based multi-strategy investment program designed to deliver superior, non-correlated returns at critical times. It gained from shorts in......................

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