361 Managed Futures Strategy Fund &
361 Global Managed Futures Strategy Fund
In August, the S&P 500 Index was up 0.31%, while the MSCI World Index gained 0.20%, marking a slowdown in the gains experienced during the majority of 2017. While volatility levels remained very low, most equity markets were extremely choppy during the month. This created a conducive trading environment, especially for the 361 Global Managed Futures Strategy Fund (AGFZX), which gained 3.73% in August. The 361 Managed Futures Strategy Fund (AMFZX) had a more limited opportunity set and earned a small gain of 0.09% for the month.
AGFZX saw strong gains in almost every market traded, producing positive performance in Europe, the U.S. and Asia. For 2017, AGFZX has gained 8.86% and AMFZX has gained 0.90%. Both funds continue to outpace the Morningstar Managed Futures Fund category, which has lost about 0.5% year-to-date in 2017. Additionally, both funds earned four (AMFZX) and five (AGFZX) star Overall Morningstar Ratings, as of 08/31/2017.
As expected, when global markets became more choppy during August, the funds were able to capitalize and post uncorrelated gains, especially in AGFZX. Should markets remain in a choppy, and volatility increase, we are confident that both funds have the potential to produce uncorrelated, positive performance and continue to enhance an investor’s overall portfolio by lowering risk without sacrificing returns.