MAXIN GLOBAL FUND - USD is a Long / Short Directional hedge Fund incorporated in Luxembourg. It started trading on February,22 2022 and replaces MAXIN ADVISORS' MODEL PORTFOLIO which has been trading since January 1st 2014. At MAXIN ADVISORS, we manage FULLY TRANSPARENTLY and publish the transactions on a DAILY basis and the details of the portfolio on a WEEKLY basis.
Today, after the pullback in Chinese equities, we started re-instating some of our individual positions isn the Insurance and banking sector, added CHINA SOUTHERN AIRLINES and bought back some of our FT50 China ETF that we sold higher up.
In the US, the momentum of the market is weakening considerably even if the market could push a little higher on lower bond yields. As announced, we are using strength to re-build our strategic short positions and have re-initiated shorts in Google and Apple Inc, were stopped our of our long position in INTEL and were stooped out on our position in Lithium batteries re-cycling company LICY.
We can see a short-term push towards our 4’100 / 4150 target on the SP500 but are worried about a shortening of our year-end bear market rally. Investors may be using any strength to reduce exposure and protect their portfolios for the close of the year.
We are also worried about a negative surprise on rates in Europe where the acceleration upward of inflation is besoming untenable.
The next monetary policy of the Governing Council of the ECB will be on December 15, 2022 and that could yield a much larger rate hike than currently expected by the markets.
In sum, in Western markets, most of the bear market rally is behind us and investors should take advantage of any strength to take profits or go short.
In China, our expected breather is now almost complete and a new up leg should be starting soon. Chinese technology giants are rolling out their Q3 earnings and the picture is positive so far with ALI BABA, BAIDU, JD, IQIYI, and KUAISHOU all surprising with strong revenue and earnings growth at the operational levels.
New Asset Allocation
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