Equities snapped back strongly in October, with the US leading the way. As we highlighted in our September 29, 2015 AFINA Angle “5 Reasons To Buy Equities. Now;” we believed that the correction was an excellent buying opportunity for value-oriented investors such as ourselves.
AFINA’s results were as follows:
- The AFINA Affinity Fund was up 4.7% in October (-1.2% YTD). At the end of October, financials represented the largest sector weighting at 36.0%, followed by Consumer/Health Care (27.4%) and technology (20.0%).
- The AFINA Optima10 was down -2.9% in October (+0.5% YTD) and has generated a +13.9% annualized return since 2010. Performance from key holdings such as IBM, Western Digital and Seagate Technology have lagged the recovery in overall equity markets. We expect to see strong returns from these holdings thru 2016.
As of October 31, 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.