Auspice Managed Futures Excess Return Index (AMFERI)
The AMFERI had a strong month after pulling back in Q1 following a positive 2013 result. Commodity movement was a dominant theme throughout April while traditional market sectors continue to be choppy and some equity markets pulled back. The long/short agility of the AMFERI benefitted weaker sectors within the commodity portion of the portfolio, including Metals.
The momentum from asset class rotation is building. Commodities, managed futures and alternatives in general carry a portion of this momentum, emphasizing the importance of including alternative investments to your portfolio.