Acumen Portfolio Performance Q3 2021

Commentary on Portfolio Performance – OCTOBER 2021

Acumen & Trust portfolios had one of their best months of the year in October. All portfolios featured in delivering strong, steady gains. Equities were the main driver of returns and infrastructure also featured strongly. Equity volatility trended downwards as the month progressed. Gold and alternative strategies also performed steadily however the spectre of higher interest rates to calm inflation held back bond returns.

WTI Crude hit $85 a barrel near the end of the month, a 7-year high. Heating oil and gasoline was up 3.1% and 4.4% respectively for the month. On the flip side, natural gas finished off the month down 6.5%. Infrastructure had a positive month. One of our infrastructure holdings, 3i enjoyed a significant uplift on announcement of a sale of an asset at an attractive price and news that the portfolio returns will likely exceed expectations set by the management team in March ’21.