---

Global financial markets declined through mid-September as interest rates increased and investors positioned for ongoing tension between inflation challenges and a weakening global economy. Technology led global equity market declines, although performance was mixed across sectors with gains seen in Energy. Regional performance was mixed with gains in the UK & Japan offset by declines in Germany and Hong Kong. Interest rates increased with similar increases across all maturities; the US Dollar gained against most currencies. Energy led commodity gains with Oil posting a sharp increase while Natural Gas declined; Silver led Metals declines while Sugar led Agricultural gains.
The HFRI-I Liquid Alternative UCITS Index gained +0.23% through mid-September.
Comments reference performance figures as of September 15th, 2023