PAM MFSP Weekly Update – 19 June 2026

Performance Overview

As of 19 June 2026, MFSP A and B posted weekly performances of 2.58% and 2.58%, respectively. Month-to-date returns stood at 0.27% and 0.11%, while year-to-date returns 23.89% and 22.71%.

Foreign Exchange: Currency positions acted as a vital stabilizing pillar for the portfolio, demonstrating robust performance across multiple pairs. Short tracking in major and commodity currencies captured solid gains, led by the Canadian dollar/usd, Japanese yen/usd, New zealand dollar/usd, and Euro/usd. On the long side, a position in the Usd/korean won also provided positive momentum. Conversely, a long exposure to the Swiss/yen (imm) detracted from the sector's gains.

Agriculturals: The agricultural sector witnessed highly divergent internal trends. Long tracking in Live cattle was exceptionally profitable, emerging as the strategy's top performer of the month. Tactical short positions also captured steady returns, driven by Soybean meal and Corn. However, long-biased exposures within grains and softs faced heavy selling pressure, with Soybeans and Soybean oil standing out as the primary detractors. Long allocations in Robusta coffee and a short position in Arabica coffee also weighed down overall sector attribution.

Energy: Energy positions encountered near-term friction as crude market dynamics shifted. A long-biased allocation in Brent crude oil faced a minor retracement.

Metals: The metals complex continued to struggle under persistent macroeconomic headwinds, with industrial and precious bullion positions facing broad declines. A short position in Palladium served as the lone bright spot. On the long side, performance was noticeably dragged down by sharp pullbacks in Platinum, Tsi iron ore cfr china futures, Silver, and Aluminium.

Equities: In equities, a short thematic position in Adobe systems navigated stock market fluctuations successfully. Longs in U.S. and Taiwan stocks also delivered strong return.