via Institutional Investor: In March and for the quarter, the bulk of The Mulvaney Global Markets Fund‘s gains were driven by what the firm calls “soft” commodities. They accounted for about 51.6 percent of the month’s performance and 121 percent of the three-month period’s performance, per the firm’s document. Stock indices were responsible for 30 percentage points of first-quarter performance. Metals, interest rates, and livestock detracted from quarterly performance
PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. THE RISK OF LOSS IN TRADING COMMODITY FUTURES, OPTIONS, AND FOREIGN EXCHANGE (“FOREX”) IS SUBSTANTIAL.
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