Arnott Capital – April Performance Update

Arnott Capital commentary for the month of April ended April 30, 2023.

The fund returned negative 0.77% for the month of April 2023. Net exposure averaged 32% long, while gross averaged 89%. This brings our calendar year return to negative 3.58% and since inception return to positive 20.91% p.a. net of fees.

Q1 2023 hedge fund letters, conferences and more

The current macroeconomic environment is unusually difficult to predict with multiple tailwinds and headwinds for risk assets on the horizon.

On the positive side: the interest rate hiking cycle in developed economies looks to be near the summit; Europe has shown immense resiliency in the face of an energy crisis; China...