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Meriti Neutral share class A rose during April by +0.91 percent and the fund has thus risen by +4.51 percent since the turn of the year. Since the start of the strategy pro forma on 30/06/2010, the fund has returned +189.7 percent while the correlation to the Swedish stock market has been 0.10.
After hitting new highs for the year, US stock markets were initially pressured by concerns about rising inflation figures and the escalating risk of large-scale war in the Middle East. But the development was curbed in the middle of the month when buying volumes again gave the stock market renewed momentum. In Europe, equity markets were more mixed.
The UK, Germany and France have developed positively, while others, such as Italy and Spain, have shown negative developments due to concerns over domestic conditions. The European Central Bank ECB signaled monetary policy easing and the currency market was relatively stable, with the euro remaining strong against the dollar.
By sector, technology, green energy and healthcare sectors continued to attract buyers. The central banks' decisions and signals about future interest rate policy will likely play a prominent role in future developments, as will geopolitics and the companies' profitability.
The fund as a whole generated positive returns on 15 out of 21 trading days. The fund's Value-at-Risk (95%, 1 day) averaged 0.35 percent during the month and the exposure to the stock market, the fund's estimated beta to the world index, averaged 0.19.