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CADIZ BCI MONEY MARKET FUND
The Money Market fund performed well during the month of October, delivering on its mandate to consistently provide cash-beating returns with minimal volatility over time. Trading activity was primarily prompted by deployment of cash and managing maturities. The fund continues to be managed within the prescribed mandate constraints, with the objective of outperforming the benchmark, while ensuring substantial liquidity and low variation of return. The persistence of the current high interest rate environment allows the fund to exploit lucrative opportunities to invest with minimal downside risk.
.CADIZ BCI ENHANCED INCOME FUND
The Cadiz BCI Enhanced Income Fund’s exposure to nominal bonds and inflation-linked bonds stood it in good stead during the month of October as these asset classes rebounded from the losses suffered in the previous month. The fund remains well diversified across a large variety of floating rate notes which continue to deliver low variability of returns. The fund remains aligned with its long-standing track-record of consistently delivering low-volatility returns and focusing on growing wealth while limiting downside risks. The trading activities implemented during the month were driven by cash flows and reinvestment strategies, aligning with the fund’s objective of prudent portfolio management.
CADIZ BCI ABSOLUTE YIELD FUND
The Cadiz BCI Absolute Yield fund performed well during the month of October, taking full advantage of its exposure to nominal and inflation-linked bonds as these asset classes recovered from the slump experienced in the previous month. In addition, the fund’s exposure to floating rate notes and corporate credit boosted the overall performance for the period. Trading activities during the month included the deployment of cash, re-investment of maturing instruments and active duration management to match the investment strategy and investment view. The fund remains actively managed by the team to take opportunities as they present themselves and to manage prevailing risks.