The month of September was characterized by strong movements, particularly in the equity and energy markets. The Superfund Funds were able to profit from that environment and made significant gains of up to 12.23%, with the largest gain for the Superfund C EUR SICAV.
Gains From Natural Gas and Equities
During September our TradingSystem was able to realize gainsfrom taking short positions in Natural Gas Futures, among others. Natural Gas Futures lost 25.2% over the course of the month after the December futures contract broke through an important support line. The primary driver for this was news that US supplies were 13% above the previous year's level. Additionally fear of a further increase in supply due to a recession led to falling prices.
The international equity markets reacted with steep increases due to the general decline in energy prices. The Dow trended towards a new All-time-High and European Equity markets reached their highest levels since the beginning of the year. The 6.3% increase in the Spanish IBEX Index secured gains for the Superfund Funds.
Losses inthe British Pound
Our Trading Systems were less successful in the FX Sector. A 1.8% decline in September for theBritish Pound December Futures Contract led to a loss forour trading system. The rise in Sterling was triggered by anunexpected increase in the UK base rate set by the Bank of England.Even thoughthis increase wasbased on erroneous inflation data,analysts still expect the Bank of England to further increase the base rate in November.