PAM MFSP Weekly Update – 21 August 2026

Performance Overview

For the week ended 21 August 2026, MFSP Class A and B posted weekly performances of -3.97% and -3.97%, respectively. Month-to-date returns stood at 4.91% and 4.74%, while year-to-date return 8.08% and 6.70%.

Sector Analysis

Energy: The energy sector was the largest contributor both over the week and for the month to date, led by a short position in Henry hub natural gas, alongside long positions in Dutch Ttf natural gas, low sulphur gasoil, and Brent crude oil.

Agriculturals: The agricultural sector was the second-largest contributor over the week and for the month, led by long positions in crude palm oil and soybeans, together with long positions in sugar No.11 and white sugar No.5, partially offset by losses from short corn and short Chicago wheat positions.

Foreign Exchange: Currency positions were marginally negative over the week and for the month, as gains from a long Korean won/usd position were outweighed by losses from short Canadian dollar/usd, short Euro/usd, and long Usd/Taiwanese dollar forward positions.

Interest Rates: Interest rate positions posted a small loss over the week and month to date, weighed down by a long Euro-Buxl position.

Metals: Metals detracted marginally over the week and month to date, led by a loss from a short micro gold position.



Equities: Equities posted a marginal loss over the week, with a short Netflix position among the notable detractors alongside broader index exposure. Longs in the U.S. and Taiwan equities also retreated.