Quarterly Report
Review: Focused Market Narratives Guiding Our Q1 Strategy The first quarter of 2025 presented a dynamic and rapidly evolving market environment, shaped by shifting macroeconomic conditions, trade policy developments, and investor sentiment adjustments. The year began with strong optimism, driven by expectations that the U.S. economy would continue to
Annual Letter
The Exclusive Advantage: New Pathways to Success in a Resource-limited World Dear colleagues, partners and clients, I hope this letter finds you in excellent health and spirits. 2025 has arrived, bringing with it a world more complex and unpredictable than ever. Geopolitical tensions ripple across global economies, inflationary pressures test
Annual Report
About CP Global Macro Strategy Our investment approach focuses on executing trades spanning across a variety of asset classes, leveraging profit opportunities driven by our global macro perspective, unlike traditional asset allocation methods or conventional trading strategies. This low correlation to market approach enables us to respond dynamically to shifting
Annual Report
Download 2024 CP Performance Attribution2024 CP Performance Attribution.pdf3 MBdownload-circle Disclaimer This document has been prepared for the purpose of providing general information only without taking account of any particular investor’s objectives, financial situation or needs, and does not amount to an investment recommendation. In all cases, the information
Fund Performance
CP Global Alpha Fund Cumulative Performance since Inception Rebased in Selected Local Currencies Time Period: Since Inception till 31 Dec 2024
Case Study
1. Macro Environment Background * China's 10 Trillion Yuan Stimulus Package: On 24/9/2024, China’s central bank unveiled a 10 trillion yuan stimulus package aimed at boosting the stock market and property sector to revive the economy. * Market Reaction Before National Day (1/10/2024): Optimism surged
Case Study
1. Macro Environment Background and 2. Scenario Analysis * Macro Environment: Mirrors Case Study (Global Macro): Short Gold - 23 Apr 2024 to 3 May 2024 — rate differentials fuelled carry trades using the Yen for higher-yielding assets. * Scenario Analysis: Positive correlations suggest carry unwinding risks, with BoJ policy shifts and Fed
Market View
This article first appeared in Wealth, The Edge Malaysia Weekly on July 22, 2024 - July 28, 2024 Raymond Tan, founder and CEO of Singapore-based hedge fund CP Global Asset Management, cautions investors to brace for impact as the world inches closer towards the US presidential election. Globally, funds did
Case Study
1. Macro Environment Background In response to inflation, global central banks raised interest rates in 2022, except for the Bank of Japan (BoJ), which maintained negative rates. This rate differential fuelled carry trades, with investors using the low-yielding Yen to fund investments in higher-yielding assets like US equities, Gold, and
Q&A
For years now, we have repeatedly addressed concerns regarding USD-denominated CP funds each time the issue of potential Dollar weakness arises. This includes periods such as during the implementation of quantitative easing (QE) and zero-interest-rate policies, or post-pandemic Modern Monetary Theory (MMT) policies. The implementation of these measures sparked concerns