{"id":5455,"date":"2024-06-06T11:57:26","date_gmt":"2024-06-06T09:57:26","guid":{"rendered":"https:\/\/seahawk-investments.com\/lang-en\/?p=5455"},"modified":"2024-07-10T14:13:59","modified_gmt":"2024-07-10T12:13:59","slug":"seahawk-equity-l-s-fund-factsheet-may-5","status":"publish","type":"post","link":"https:\/\/seahawk-investments.com\/lang-en\/2024\/06\/06\/seahawk-equity-l-s-fund-factsheet-may-5\/","title":{"rendered":"Seahawk Equity L\/S Fund \u2013 Factsheet May"},"content":{"rendered":"

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General Market Review<\/span>\u00a0<\/strong><\/p>\n

Both equity and bond markets have shown positive returns in the month of May, as market participants were optimistic about potential rate cuts starting this summer. Global bonds have generated positive returns. Expectations about falling interest rates have particularly put the growth sectors of the stock market back into investors\u2019 favor.<\/p>\n

US economic data has remained solid, but the data released in May has given indication of some sign of moderation. Whilst the flash Purchasing Manager Index (PMI)continued to show strength with the Manufacturing index and the Services Index rising to 50.9 and 54.8 respectively, the labor and real estate market weakened. Non-farm payrolls and private payrolls increased by only +175k and 167k for the month of April versus a previous reading of +315k and +243k. New home sales fell by -4,7% in the month of April.<\/p>\n

On the other hand, the Euro area economy gave further signs of improvement. The Eurozone Composite PMI rose to 52.3 for the month of April from 51.7 in the previous month. The services sector continued to act as the key pillar of strength.<\/p>\n

The development of longer-term interest rates has given some relief to investors. The US 10-year treasury yield has decreased from 4.7% to 4.5%, while the German 10-year Bund yield was unchanged at 2.6%.<\/p>\n

In the US, the consumer price index for the month of April came in at +3.4% vs. 3.5% (headline) and +3.6% (core) vs. 3.8% in the previous month.<\/p>\n

In Europe, inflation readings have moved up slightly. The Euro-Area Consumer Price Index came in at 2.6% (headline) and 2.9% (core) for the month of April.<\/p>\n

In this environment, the MSCI World Index gained by +4.5% (USD den.) whereas the MSCI Europe Index was able to add +4.9% (EUR den.).<\/p>\n

<\/span><\/strong><\/p>\n

Energy and Transportation<\/span><\/strong><\/p>\n

Oil prices eased throughout the month on worries over weak U.S. gasoline demand at the start of the driving season, US gasoline demand fell to 9.2 mn. barrel\/day at the end of the month leading to a surprise jump in gasoline inventories. U.S. gasoline consumption represents 10% of global oil demand. Weaker refined product markets initiated a slump in overall oil prices at the end of the month. The price of Brent Oil fell from $ 87.8 per barrel to $ 81.6. The Stoxx 600 Oil and Gas Index (EURO denom.) fell by -0.3 % in May.<\/p>\n

On the other hand, the interest sensitive renewable energy sector was able to recover from the previous month losses as growth stocks came back into favor. The S&P Global Clean Energy Sector Index gained by +12.7% in May. With that the renewable energy segment is still down by -4.1% year-to-date.<\/p>\n

Transportation segments were mixed during the month. The DJ Transportation Average Index gained by a moderate +2.5% lagging the broad market indices. The airline segment was the weakest. The US Global Jets Index dropped by -0.6%. American Airlines guidance has weighed on the market sector. Total revenue per available seat mile was expected 5-6 % lower than the year ago quarter and thereby worse than expected. This gave further evidence that air fares in the airlines sector may soften.<\/p>\n

The Russell 2000 Marine Transportation Index has increased by +16.7%. Shipping stocks were further supported by the ongoing disruptions in the Red Sea. These disruptions had the strongest impact on the container shipping as well as the product tanker segment as vessels continued to be rerouted around the horn of Africa, thereby adding 15 to 20 days of voyages. Container freight rates have increased further by another +7% in the month of May. The SCFI (Shanghai Containerized Freight Index) is now up by +175% year-on-year. Crude oil tanker (VLCC – Very Large Crude Carrier) rates have softened to $27k\/day at month end, whereas product tanker rates (MR earnings) have strengthened from $ 31k\/day to $47.5k\/day at month end. VLGC (Very Large Gas Carrier) rates have increased further from $54k\/day to $72.5k at month-end. Freight rates in the LPG sector continue to be supported by congestion in the Panama Canal.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/strong><\/span><\/p>\n

Fund Performance<\/strong>
<\/span><\/p>\n

The fund performance of both the USD as well as EUR denominated share classes were positive.<\/p>\n

Within transportation the shipping long book had an overall positive contribution of +3.6%. Long positions in the crude\/product\/chemical, dry-bulk as well as offshore-supply segment contributed a positive +2,4%, +0.6% and +0.5% respectively. On the other hand, the short shipping book in the container and LPG segment had a negative contribution of -1.0%.<\/p>\n

In the area of freight services, the short book had a positive contribution of +0.1% whereas short positions in other transportation segments had a negative contribution of -1.1%. The aviation long book was negative with a contribution of -0.2%.<\/p>\n

Within the energy segment both long and short positions in the oil & gas segment had a positive contribution with the long book adding +0.9% and the short book adding + 0,3%. In addition, a long exposure in the utility segment had a positive contribution of +0.1%.<\/p>\n

Overall hedging positions via short index futures have contributed negatively by ca. -0.2% to the overall performance result.<\/p>\n

For more information, you can find our latest<\/span>\u00a0 Factsheet \u2013 May 2024.<\/strong><\/a><\/p>\n

<\/span><\/strong><\/p>\n

Seahawk Investments GmbH<\/span><\/strong><\/p>\n

This document is a customer information (“CI”) within the meaning of the German Securities Trading Act (WpHG), the “CI” is directed exclusively to professional clients within the meaning of section 67 WpHG (natural and juristic persons) with habitual residence or registered office in Germany and is used solely for informational purposes. This “CI” cannot replace an individual investment- and investor-friendly advice and does not justify a contract or any other obligation. Furthermore, the contents do not constitute investment advice, an individual investment recommendation, an invitation to subscribe for securities or a declaration of intent or a request to conclude a contract for a transaction in financial instruments. Also, it was not written with the intention of providing legal or tax advice. The tax treatment of transactions depends on the personal circumstances of the respective customer and may be subject to future changes. The individual circumstances of the recipient (including the economic and financial situation) were not taken into account in the preparation of the “CI”. Past performance is not a reliable indicator of future performance. Recommendations and forecasts are non-binding value judgments about future events and may therefore prove to be inaccurate with respect to the future development of a product. The listed information refers exclusively to the time of the creation of this “CI”, a guarantee for timeliness and continued correctness cannot be accepted. An investment in mentioned financial instruments \/ investment strategy \/ securities services involves certain product specific risks – e.g. Market or industry risks and risk in currency, default, liquidity, interest rate and credit – and is not suitable for all investors. Therefore, potential prospects should make an investment decision only after a detailed investment advisory session by a registered investment advisor and after consulting all available sources of information. For further information, please refer to the basic information sheet (PRIIPs) and the securities prospectus for free: https:\/\/seahawk-investments.com\/fonds\/. The securities prospectus is provided to you in English and the basic information sheet in German. The above content reflects only the opinions of the author, a change of opinion is possible at any time, without it being published. The present “CI” is protected by copyright, any duplication and commercial use are not permitted. Editor: Seahawk Investments GmbH, Bettinastra\u00dfe 62, 60325 Frankfurt am Main acts as a tied agent (section 3 (2) German Wertpapierinstitutsgesetz (WpIG)) on behalf of, in the name of, for account and under the liability of the responsible legal entity BN & Partners Capital AG, Steinstrasse 33, 50374 Erftstadt. BN & Partners Capital AG has a corresponding license (section 15 WpIG) from the German Federal Financial Supervisory Authority (BaFin) for the provision of investment advice in accordance with section 2 (2) no. 4 WpIG and investment brokerage according to section 2 (2) no. 3 WpIG.<\/p>\n

Foreign Exchange Fluctuations may have a negative impact on performance results.<\/p>\n

Please note that the information from Lipper Leaders relates to the previous month. All rights reserved. Lipper Leaders – \u00a9 2024 Lipper Lipper Leaders Ranking Criteria – Ratings from 1 (low) to 5 (high) First Number = Total Return; Second Number = Consistent Return; Third Number = Preservation; Fourth Number = Expense<\/p>\n

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General Market Review\u00a0 Both equity and bond markets have shown positive returns in the month of May, as market participants were optimistic about potential rate cuts starting this summer. Global bonds have generated positive returns. Expectations about falling interest rates have particularly put the growth sectors of the stock market back into investors\u2019 favor. US […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"

General Market Review<\/span>\u00a0<\/strong><\/p>

Sowohl die Aktien- als auch die Anleihem\u00e4rkte verzeichneten im Mai eine positive Wertentwicklung, da die Marktteilnehmer im Monatsverlauf optimistischer hinsichtlich m\u00f6glich Zinssenkungen ab Sommer 2024 wurden. Globale Anleihen haben eine positive Wertentwicklung erzielt. Die Erwartung sinkender Zinss\u00e4tze hat insbesondere die Wachstumssektoren des Aktienmarktes wieder in die Gunst der Anleger gebracht. Die US-Wirtschaftsdaten waren weiterhin solide, aber die im Mai ver\u00f6ffentlichten volkswirtschaftlichen Daten deuteten auch auf eine gewisse Abschw\u00e4chung hin. W\u00e4hrend der Flash-Einkaufsmanagerindex (PMI) mit einem Anstieg des Index f\u00fcr das verarbeitende Gewerbe und des Index f\u00fcr den Dienstleistungssektor auf 50,9 bzw. 54,8 weiterhin St\u00e4rke zeigte, schw\u00e4chte sich der Arbeits- und Immobilienmarkt ab. Die Zahl der Besch\u00e4ftigten au\u00dferhalb der Landwirtschaft und die Zahl der Besch\u00e4ftigten in der Privatwirtschaft stiegen im April nur um +175 Tsd. bzw. 167 Tsd. gegen\u00fcber +315 Tsd. bzw. +243 Tsd. in der Vorwoche. Die Verk\u00e4ufe neuer H\u00e4user gingen im April um -4,7% zur\u00fcck.<\/p>

Andererseits zeichnete sich in der Eurozone eine Verbesserung der volkswirtschaftlichen Lage ab. Der Composite PMI der Eurozone stieg im April auf 52,3 gegen\u00fcber 51,7 im Vormonat. Der Dienstleistungssektor war weiterhin die wichtigste St\u00fctze der Konjunktur.<\/p>

Die Entwicklung der l\u00e4ngerfristigen Zinss\u00e4tze hat den Anlegern etwas Erleichterung verschafft. Die Rendite 10-j\u00e4hriger US-Staatsanleihen ist von 4,7 % auf 4,5 % gesunken, w\u00e4hrend die Rendite 10-j\u00e4hriger deutscher Bundesanleihen unver\u00e4ndert bei 2,6 % lag.<\/p>

In den USA lag der Verbraucherpreisindex f\u00fcr den Monat April bei +3,4 % gegen\u00fcber 3,5 % (Gesamtindex) und +3,6 % (Kernindex) gegen\u00fcber 3,8 % im Vormonat.<\/p>

In Europa haben sich die Inflationswerte leicht erh\u00f6ht. Der Verbraucherpreisindex der Eurozone lag im April bei 2,6% (Gesamtinflation) und 2,9% (Kerninflation).<\/p>

In diesem Umfeld legte der MSCI World Index um +4,5% (USD den.) zu, w\u00e4hrend der MSCI Europe Index um +4,9% (EUR den.) zulegen konnte.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/p>

\u00a0<\/p>

Energy and Transportation<\/span><\/strong><\/p>

Die \u00d6lpreise gaben im Laufe des Monats aufgrund einer schwachen US-Benzinnachfrage zu Beginn der Fahrsaison nach. Die US-Benzinnachfrage sank am Ende des Monats auf 9,2 Mio. Barrel\/Tag, was zu einem \u00fcberraschenden Anstieg der Benzinvorr\u00e4te f\u00fchrte. Der US-amerikanische Benzinverbrauch macht ca. 10 % der weltweiten \u00d6lnachfrage aus. Schw\u00e4chere M\u00e4rkte f\u00fcr raffinierte Produkte l\u00f6sten zum Monatsende einen Einbruch der allgemeinen \u00d6lpreise aus. Der Preis f\u00fcr Brent-\u00d6l fiel von 87,8 $ pro Barrel auf 81,6 $. Der Stoxx 600 Oil and Gas Index (EURO denom.) fiel im Mai um -0,3 %.<\/p>

Andererseits konnte sich der zinssensitive Sektor der erneuerbaren Energien von den Verlusten des Vormonats erholen, da Wachstumswerte wieder in den Vordergrund r\u00fcckten. Der S&P Global Clean Energy Sector Index konnte im Mai um +12,7 % zulegen. Damit liegt das Segment der erneuerbaren Energien im bisherigen Jahresverlauf immer noch mit -4,1% im Minus.<\/p>

Die Transportsegmente entwickelten sich im letzten Monat uneinheitlich. Der DJ Transportation Average Index konnte nur um moderate +2,5% zulegen und blieb damit hinter den breiten Marktindizes zur\u00fcck. Das Luftfahrtsegment war am schw\u00e4chsten. Der US Global Jets Index fiel um -0,6%. Die Prognosen von American Airlines haben den Marktsektor belastet. Die Gesamteinnahmen pro verf\u00fcgbare Sitzmeile waren um 5-6 % niedriger als im Vorjahresquartal und damit schlechter als erwartet. Dies war ein weiterer Hinweis darauf, dass die Ticketpreise im Luftfahrtsektor nachgeben k\u00f6nnten.<\/p>

Dahingegen ist der Russell 2000 Marine Transportation Index um +16,7 % gestiegen. Die Schifffahrtsaktien wurden durch die anhaltenden St\u00f6rungen im Roten Meer weiter unterst\u00fctzt. Diese St\u00f6rungen wirkten sich am st\u00e4rksten auf die Containerschifffahrt und das Produktentankersegment aus, da die Schiffe weiterhin um das Horn von Afrika herum umgeleitet wurden, was zu einer Verl\u00e4ngerung der Fahrtzeit um 15 bis 20 Tage f\u00fchrte. Die Containerfrachtraten sind im Mai um weitere +7 % gestiegen. Der SCFI (Shanghai Containerized Freight Index) liegt nun um +175 % \u00fcber dem Vorjahreswert. Die Raten f\u00fcr Roh\u00f6ltanker (VLCC - Very Large Crude Carrier) sind zum Monatsende auf 27 Tsd. $\/Tag gesunken, w\u00e4hrend die Raten f\u00fcr Produktentanker (MR-Ertr\u00e4ge) von 31 Tsd. $\/Tag auf 47,5 Tsd. $\/Tag zum Monatsende gestiegen sind. Die VLGC-Raten (Very Large Gas Carrier) stiegen weiter von 54 Tsd. $\/Tag auf 72,5 Tsd. $\/Tag am Monatsende. Die Frachtraten im LPG-Sektor werden weiterhin durch die \u00dcberlastung des Panamakanals gest\u00fctzt.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/p>

\u00a0<\/p>

Fund Performance<\/strong>
<\/span><\/p>

Die Fondsperformance sowohl der auf USD als auch der auf EUR lautenden Anteilsklassen war positiv.<\/p>

Innerhalb des Transportsektors leistete das Long-Buch im Bereich Shipping einen positiven Beitrag von insgesamt +3,6%. Long-Positionen in den Segmenten Roh\u00f6l\/Produkte\/Chemie, Sch\u00fcttgut und Offshore-Versorgung trugen mit +2,4%, +0,6% bzw. +0,5% positiv bei. Dagegen leistete das Short Shipping Book im Container- und LPG-Segment einen negativen Beitrag von -1,0 %.<\/p>

Im Bereich der Frachtdienste leistete das Shortbuch einen positiven Beitrag von +0,1%, w\u00e4hrend Shortpositionen in anderen Transportsegmenten einen negativen Beitrag von -1,1% leisteten. Im Luftverkehr war das Longbuch mit einem Beitrag von -0,2 % negativ.<\/p>

Innerhalb des Energiesegments leisteten sowohl die Long- als auch die Short-Positionen im \u00d6l- und Gassegment einen positiven Beitrag, wobei das Long-Buch mit +0,9% und das Short-Buch mit +0,3% zu Buche schlugen. Dar\u00fcber hinaus leistete ein Long-Engagement im Versorgersegment einen positiven Beitrag von +0,1%.\u00a0<\/p>

Insgesamt haben Absicherungspositionen \u00fcber Short-Indexfutures einen negativen Beitrag von ca. -0,2% zum Gesamtergebnis geleistet.<\/p>

For more information, you can find our latest Fact Sheet \u2013 May 2024.<\/strong><\/a><\/p>

\u00a0<\/p>

Seahawk Investments GmbH<\/span><\/strong><\/p>

This document is a customer information (\"CI\") within the meaning of the German Securities Trading Act (WpHG), the \"CI\" is directed exclusively to professional clients within the meaning of section 67 WpHG (natural and juristic persons) with habitual residence or registered office in Ger\u0002many and is used solely for informational purposes. This \"CI\" cannot replace an individual investment- and investor-friendly advice and does not justify a contract or any other obligation. Furthermore, the contents do not constitute investment advice, an individual investment recommenda\u0002tion, an invitation to subscribe for securities or a declaration of intent or a request to conclude a contract for a transaction in financial instru\u0002ments. Also, it was not written with the intention of providing legal or tax advice. The tax treatment of transactions depends on the personal cir\u0002cumstances of the respective customer and may be subject to future changes. The individual circumstances of the recipient (including the eco\u0002nomic and financial situation) were not taken into account in the preparation of the \"CI\". Past performance is not a reliable indicator of future performance. Recommendations and forecasts are non-binding value judgments about future events and may therefore prove to be inaccurate with respect to the future development of a product. The listed information refers exclusively to the time of the creation of this \"CI\", a guarantee for timeliness and continued correctness cannot be accepted. An investment in mentioned financial instruments \/ investment strategy \/ securit\u0002ies services involves certain product specific risks - e.g. Market or industry risks and risk in currency, default, liquidity, interest rate and credit - and is not suitable for all investors. Therefore, potential prospects should make an investment decision only after a detailed investment advisory session by a registered investment advisor and after consulting all available sources of information. For further information, please refer to the basic information sheet (PRIIPs) and the securities prospectus for free: https:\/\/seahawk-investments.com\/fonds\/. The securities prospectus is provided to you in English and the basic information sheet in German. The above content reflects only the opinions of the author, a change of opinion is possible at any time, without it being published. The present \"CI\" is protected by copyright, any duplication and commercial use are not permitted. Editor: Seahawk Investments GmbH, Bettinastra\u00dfe 62, 60325 Frankfurt am Main acts as a tied agent (section 3 (2) German Wert\u0002papierinstitutsgesetz (WpIG)) on behalf of, in the name of, for account and under the liability of the responsible legal entity BN & Partners Capit\u0002al AG, Steinstrasse 33, 50374 Erftstadt. BN & Partners Capital AG has a corresponding license (section 15 WpIG) from the German Federal Finan\u0002cial Supervisory Authority (BaFin) for the provision of investment advice in accordance with section 2 (2) no. 4 WpIG and investment brokerage according to section 2 (2) no. 3 WpIG.<\/p>

Foreign Exchange Fluctuations may have a negative impact on performance results.<\/p>

Please note that the information from Lipper Leaders relates to the previous month. All rights reserved. Lipper Leaders - \u00a9 2024 Lipper Lipper Leaders Ranking Criteria - Ratings from 1 (low) to 5 (high) First Number = Total Return; Second Number = Consistent Return; Third Number = Pre\u0002servation; Fourth Number = Expense<\/p>","_et_gb_content_width":"","footnotes":""},"categories":[1,22],"tags":[],"class_list":["post-5455","post","type-post","status-publish","format-standard","hentry","category-allgemein","category-news"],"yoast_head":"\nSeahawk Equity L\/S Fund \u2013 Factsheet May - Seahawk Investments<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/seahawk-investments.com\/lang-en\/2024\/06\/06\/seahawk-equity-l-s-fund-factsheet-may-5\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Seahawk Equity L\/S Fund \u2013 Factsheet May - Seahawk Investments\" \/>\n<meta property=\"og:description\" content=\"General Market Review\u00a0 Both equity and bond markets have shown positive returns in the month of May, as market participants were optimistic about potential rate cuts starting this summer. 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