Fund News – August

CADIZ BCI MONEY MARKET FUND

The Cadiz Money Market Fund remains true to its mandate by consistently providing returns that outperform cash.  The fund remains strategically positioned to take advantage of elevated interest rates. We are mindful of the dynamics in the interest rate environment however, as we navigate the top of the interest rate cycle. While being managed within its prescribed mandate constraints, the fund is consistently outperforming its benchmark, the Alexander Forbes Short Term Fixed Interest (SteFI) composite index. In addition, the fund diligently ensures the maintenance of adequate liquidity levels while keeping the volatility of returns low. 

CADIZ BCI ENHANCED INCOME FUND

The fund once again benefitted from the positive performance of its exposure to nominal and inflation-linked bonds during the month of July. The exposure to floating rate notes and a diverse array of money market instruments also contributed to the positive performance achieved over the period. The fund maintained its long-standing track record of delivering low volatility returns and focusing on growing wealth, while limiting downside risks. 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 fund maintained its exposure to nominal and inflation-linked bonds which stood the fund in good stead during the month as these asset classes delivered positive returns for the period. Its diversified exposure to floating rate notes also made favourable contributions to performance. 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.