PAM MFSP Weekly Update – 10 April 2026

Performance Overview

As of 10 April 2026, MFSP A and B posted weekly performances of 5.72% and 5.72%, respectively. Month-to-date returns stood at 7.71% and 7.54%, while year-to-date returns 12.19% and 11.47%. The year-to-date return of MFSP jumped to a double-digits.

Sector Analysis and Attribution

Foreign Exchange: Currency positions yielded varied results. Positive contributions came from a long position in the Brazilian real/usd, a long position in Swiss/yen, and a short position in the Usd/offshore renminbi. A long position in Euro/yen also gained. However, a long position in the Usd/korean won was the largest single detractor for the period. Short positions in the Indian rupee/usd and Euro/usd further weighed on sector performance.

Agriculturals: The agricultural sector showed divergent results. A long position in Live cattle was the top-performing market overall. Feeder cattle delivered positive return. On the downside, a long position in Crude palm oil posed some losses. Other detractors included long positions in KC hard red winter wheat and Chicago soft red winter wheat, as well as short positions in Soybean meal and long positions in Soybean oil.

Fixed Income: In the interest rates sector, a short position in the Japanese 10-yr gvt. Bond delivered positive return.

Metals: The metals sector provided positive attribution. Long positions in Platinum and High grade copper are the main driver.

Equities: A long position in the Euro stoxx 50 index rose as stocks in Taiwan and the U.S. delivered significant return after severe conflicts between Iran and the U.S. Global equities gradually absorb the short term impact from the war.