PAM MFSP Weekly Update – 11 September 2026

Performance Overview

For the week ended 11 September 2026, MFSP Class A and B posted weekly performances of 1.88% and 1.88%, respectively. Month-to-date returns stood at 3.95% and 3.78%, while year-to-date return 13.38% and 11.75%.

Sector Analysis

Energy: The energy sector was the largest contributor over the week and for the month to date, led by long positions in Nordic base yearly (enext), Dutch Ttf natural gas, low sulphur gasoil, Brent crude oil, Ny harbor ulsd, and Phelix DE baseload power.

Interest Rates: Interest rate positions were the second-largest contributor over the week and for the month, led by short positions in Euribor and Australian 3-year government bonds and Australian 90-day bank bills, partially offset by losses from long 3-month Sonia and long Canadian overnight repo rate positions.

Foreign Exchange: Currency positions were the largest detractor both over the week and for the month, as losses from a short Japanese yen/usd position and long yen-cross exposure (Euro/yen, Swiss/yen, and Kiwi/yen) outweighed gains from a long Korean won/usd position.

Agriculturals: The agricultural sector was the second-largest detractor over the week and for the month, as losses from long Arabica coffee, short live cattle, long cotton No.2, and long crude palm oil positions outweighed gains elsewhere in the sector.

Metals: Metals detracted marginally over the week and month to date.

Equities: Equities contributed modestly over the week and month to date.