The AFINA investment products pulled back modestly in May, but continue to have a solid 2015:
- The AFINA Affinity Fund was down -0.3% in May (+6.5% YTD) and has generated an annualized return of +12.9% since its October 2014 inception.
- The AFINA Optima10 was down -1.5% in May (+12.9% YTD) and has generated an +18.7% annualized return since 2010.
The top performers in May were Future Fuel, Outerwall and Gilead Sciences. We began taking profits in Macro Enterprises in early May (as energy continued to rebound) and ultimately exited our position last week.
The energy weighting in the AFINA Affinity Fund LP is currently 5.1%, down from 8.7% at the end of April and 20% at the end of January. At the end of May, financials accounted for the largest sector weighting at 22.4%, followed by Consumer/Health Care at 17.9% and technology at 10%. The cash weighting in the AFINA Affinity Fund was 40% at the end of May.
As of May 31, 2015. All figures are net of fees and other expenses. Past performance is not indicative of future results. * 2014 results for the AFINA Affinity Fund LP include performance from October 1, 2014. Refer to afinacapital.com for full details and disclosures.