North American equities had another tough month in September. However, as we highlighted in our September 29, 2015 AFINA Angle “5 Reasons To Buy Equities. Now;” we believe that the correction was an excellent buying opportunity for value-oriented investors such as ourselves. Since the end of September, the S&P 500 Total Return Index has rallied 4.9% and resource stocks are pushing above key technical levels.
AFINA’s results were as follows:
- The AFINA Optima10 was down -1.9% in September (+3.5% YTD) and has generated a +14.9% annualized return since 2010. The AFINA Optima10 is up +2.2% thus far in October and remains fully invested.
- The AFINA Affinity Fund was down -2.1% in September (-5.7% YTD). The AFINA Affinity Fund is up over +4.5% thus far in October and remains fully invested.
As of September 30, 2015. All figures are net of fees and other expenses. Past performance is not indicative of future results. Refer to afinacapital.com for full details and disclosures. * 2014 results for the AFINA Affinity Fund LP includes performance from October 1, 2014.