HASAFUMA Hallenborg & Sandström Fund Management AB Business Office: Odensgatan 11 A, S-753 14 Uppsala, Sweden Telephone: +46 (0)18-495 71 11 Trading Office: Bjorn Henrik Hallenborg C/ Rio Duero 43, 28 696 Madrid, Spain Telephone: +34 91 86 46 240 Email: [email protected]______________________________________________________________________________________________________ HASAFUMA | Investor Letter June 2014 Börstjänaren Hedgehog Hedgehog has just completed it’s twentyfifth month since the start and is now, after a decline of 5.43% during May, standing on a gain of 14.30 % since the start. Of the 23 months 18 have been losing months and 7 have been winning months. As an investor in Börstjänaren Hedgehog one has to be prepared for losing streaks ranging over several months. During May we faced a lot of false breakouts which resulted in a lot of early and costly disappointments. Only in British Pound Sterling and wheat we managed to build a little hope with somewhat bigger positions, but in the end these too resulted in losses. FX Momentum Our flagship program FX Momentum also produced a big loss during May, actually with -6.33% the biggest loss since the inception of the program, and is now standing on 42.05% after 23 months of program action. For the year 2014 FX momentum is down 1.49%. Of the 23 months of trading the program FX Momentum has had 16 winning months and 7 losing months. This popular momentum-based strategy trades short time trends of the major curren- cy pairs in the Forex Futures Market. Gourishankar The ninth month of Gourishankar ended in a loss of 3.03%, thus once again bringing the standing below the water line with -0.67% since inception. This massive multi strategy program consists of all our four other strategies: the Big Trend-following Hedgehog and La Cucaracha, and the two short term trend following FX Momentum and Micro Macro. Of the nine months five have been losing and four have been winning.
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HASAFUMA – Hallenborg & Sandströms Fund Management AB is a small asset manager founded in Sweden 2011 by Henrik Hallenborg and Thomas Sandström. We started out in managed futures in May 2012 and have to date four million dollars under management.