• The market started slightly calmer in April, causing a spread tightening of 20 basis points, resulting in a plus of 0.55% in the fund.
  • The oil price reached a five-month high
  • Tensions between USA and Turkey continue to provide strong price fluctuations
  • Growing concern in Argentina over the upcoming presidential elections in October
  • Positive figures from China with an economic growth of +6.4% in Q1
  • YTD inflows in the asset class more than tripled the outflows in 2018

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