INCOME CAPITAL MANAGEMENT

April 2026: slower markets, same discipline. Positive results.


April confirmed what we already expected:
markets are slowing down, uncertainty is high, and direction is not clear.

After a subdued start to 2026, the month was characterised by:
– low conviction across asset classes
– geopolitical tensions
– unclear signals from central banks
– reduced risk appetite

At the same time, some real economy segments are showing resilience —
notably, the UAE real estate market, which is seeing renewed momentum.

And for us, April also marks 1 month since the opening of our U.S. office.
A key step in our international growth.

Results – April 2026
Forex Fund (Aggressive)
+1.63% (April)
+9.67% (YTD 2026)
+74.70% since April 2024

Real Estate Fund
+0.61% (April)
+2.29% (YTD 2026)
+16.37% since April 2024

Physical Gold
15.80 Kg in custody
€1.98M market value

What matters
– Even in a slow and uncertain market, results remain positive.
– No aggressive positioning.
– No forced trades.

Just discipline, risk control, and consistency.
We don’t try to outperform the market every month.
We focus on protecting capital and building performance over time.
Markets are in a transition phase.
Patience is not optional. It’s required.
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