Colchester Local Markets Bond Fund I shares return 3.19% gross of fees, beating benchmark by 0.66%

Colchester Global Investors said the Colchester Local Markets Bond Fund’s CHF unhedged accumulation class I shares returned 3.19% gross of fees in the quarter, ahead of the benchmark’s 2.53% return.

The manager said currency selection added 1.04 percentage points to relative returns, while bond selection detracted 0.38 percentage points. The fund held long positions in the Korean won and Japanese yen and a short position in the Mexican peso, while a long position in Brazilian rates and short positions in Hungarian and Polish rates also helped performance. The top positive currency contributors were overweight positions in the Brazilian real, Indonesian rupiah and Korean won.

Source: Colchester Global Investors.

Source statements are attributed; this is not investment advice.