Our weighted average return in September was +0.60%, bringing our year-to-date return to +13.97%.
Equity markets continued to generate strong returns is September and bond prices weakened due to the continued prospect of higher rates in the US.
Last month, we mentioned that the energy sector looked oversold. We increased our energy exposure and benefited from a continued price recovery in energy stocks.
Our investments in base metal equities did not fare so well, but volatility is part of the price of admission in this sector and we have already seen a nice recovery in October.