CQA Model Portfolio – April 2020

The Coquest Advisors Model Portfolio gained an estimated +1.6% during the month of April, bringing 2020 performance to approximately -7.3% YTD.  Trend Following was the largest contributor to positive performance, as the strategy was able to capture profits from long equity, long fixed income, and short energy trades.  Fundamental Equity Index Timing also contributed significantly to results, thanks to the strategy’s continued long positioning in the S&P 500 which rallied sharply following the previous months’ COVID Crash.  Short Term Pattern Recognition and Systematic Global Macro strategies detracted somewhat from results, due largely to short equity and long volatility trades.  Fundamental Energy Trading contributed modestly to gains, due in part arbitrage opportunities related to the recent volatility across the energy market.