Insights

Geopolitics took center stage in April, sparking a wave of risk aversion across financial markets after an exchange of missile strikes between Iran and Israel.

The US dollar shined the brightest thanks to its safe haven qualities, although the reserve currency also benefited from fading bets of Fed rate cuts, as inflation remained persistently high. With US bond yields marching higher, the Japanese yen suffered once again, hitting its lowest levels in more than three decades.

That forced Japanese authorities to intervene in the FX market to stop the yen’s depreciation. Finally, gold prices hit a new record high, despite the spike in yields and a firmer US dollar.

The IXI Fund persisted on the good results in April, building upon the growth of the previous month. Benefiting from favorable market conditions, the IXI strategy capitalized on the market momentum initiated in March, experiencing heightened volatility and strong price movements. Profits were consistently generated throughout April, particularly notable inflows occurring during the second and fourth week.