CADIZ BCI MONEY MARKET FUND
The Fund continued to fulfil its mandate and delivered competitive returns during January. Despite the low-interest rate environment, the Fund remains strategically positioned within the short-term investment universe. Its approach includes a targeted allocation to high-quality corporate credit to enhance yield, while remaining fully compliant with mandate guidelines and avoiding unnecessary risk. As a result, the Fund has continued to outperform its benchmark, the Alexander Forbes Short Term Fixed Interest (STeFI) Composite.
CADIZ BCI ENHANCED INCOME FUND
The Cadiz BCI Enhanced Income Fund’s performance benefited mainly from its exposure to nominal bonds, inflation-linked bonds and corporate credit. Government bond yields declined amid strong demand, while sustained investor appetite for corporate debt contributed to additional gains over the month. Trading activity was largely influenced by cash flows, portfolio positioning and the reinvestment of maturing instruments. The Fund remains well positioned to take advantage of opportunities across both the corporate and government bond markets.
CADIZ BCI ABSOLUTE YIELD FUND
The Cadiz BCI Absolute Yield Fund’s performance in January was primarily supported by its allocations to nominal bonds, inflation-linked bonds and corporate credit. A long bond position added to returns as yields continued to decline over the month. Trading activity centred on the deployment of available cash, portfolio rebalancing and the reinvestment of proceeds from maturing instruments. The Fund remains actively managed to capture opportunities while maintaining disciplined risk management.
CADIZ BCI BOND FUND
The Cadiz BCI Bond Fund once again delivered a positive return for the month of January. Yields continued to decline, supporting the long duration position taken by the Fund. Performance was again led by the medium- and long-term segments of the yield curve. The FTSE/JSE All Bond Index (ALBI) returned 1.93% for the month and 26.09% for the 12-month period. The Fund continues to generate returns in line with its mandate and remains strategically positioned to capture opportunities across the yield curve.
