Trident Fund LP commentary for the month ended July 2021.
Q2 2021 hedge fund letters, conferences and more
The Trident Fund LP returned +2.2 percent in July, and the fund is +6.0 percent net for 2021.
Stock and bond markets were the main return drivers for Trident in July, when fifteen of the nineteen markets traded were profitable. Commodities trading, however, recorded their first losing month of 2021 as crude oil experienced extreme volatility.
On the winning side, European fixed income was the main source of Trident’s performance, followed closely by U.S. equities, mostly the Nasdaq. Among Trident’s three models, Risk Regime was responsible for two-thirds of the return, while Engle...
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