The ABCERI was flat in October while commodities continue to sell off. After exiting remaining exposures in September, the strategy is on the sidelines.
The ABCERI lost 1.64% in September as commodities eroded sharply. We have exited remaining exposures to be flat. The last time this occurred was in the fall of 2008.
The ABCERI gained 1.03% in June as select commodities pushed higher. However, the upside was not universal, illustrating the benefit of the tactical long-flat approach the strategy uses.
