PAM MFSP Weekly Update – 14 August 2026

Performance Overview

For the week ended 14 August 2026, MFSP Class A and B posted weekly performances of 3.58% and 3.58%, respectively. Month-to-date returns stood at 9.25% and 9.07%, while year-to-date return 12.55% and 11.10%.

Sector Analysis

Energy: The energy sector was the largest contributor over the week, extending its positive role for the month, led by a short position in Henry hub natural gas.

Foreign Exchange: Currency positions were the second-largest contributor over the week, though the sector's month-to-date figure remains modestly negative, as gains from a long Korean won/usd position have yet to fully offset losses from a long Brazilian real/usd and a short Canadian dollar/usd position.

Interest Rates: Interest rate positions added a modest positive return over the week, though the sector's month-to-date figure remains slightly negative, with a gain from a short Japanese 10-year government bond position offset by losses elsewhere in the sector.

Agriculturals: The agricultural sector posted a marginal loss over the week but remains a positive contributor for the month, led by long positions in canola, crude palm oil, and European rapeseed, and long positions in white sugar and raw sugar, partially offset by losses from a short corn position and a short Chicago wheat position.

Metals: Metals contributed modestly over the week and remain broadly flat for the month, as a loss from a short micro gold position has been largely offset by gains elsewhere in the sector.

Equities: Equities posted a strong weekly gain, as losses from short Palantir Technologies, short Netflix, short Kosdaq 150, and short Sap positions have outweighed gains from a long E-mini S&p 500 position. Other longs in the U.S. and Taiwan delivered excellent results after the turmoil of July.