Fund Performance 2026: Positive Results in Difficult Markets Through September
Fund performance 2026 remained positive through September for our strategies, in a month that brought another challenging chapter for global markets. Higher rates, a stronger US dollar, volatile energy markets and elevated geopolitical risk created a demanding environment across asset classes.
This update summarises the year-to-date results of our strategies, the context in which they were achieved and our focus for the final quarter of the year.
Fund performance 2026: year-to-date results through September
- Forex Fund: +17.31% YTD
- Real Estate Fund: +4.73% YTD
- Global Growth Fund: +7.62% YTD
- High Yield Fund: +6.13% YTD
Fund performance 2026 is positive across all four strategies for the year to date, each within its own risk profile and investment horizon.
The market context in September
September tested investors on several fronts at once. Higher interest rates raised the cost of capital and put pressure on valuations. A stronger US dollar changed the balance across currency pairs and affected returns for non-dollar investors. Volatile energy prices added uncertainty to inflation expectations, and elevated geopolitical risk made sudden shifts in sentiment more likely.
Environments like this tend to expose weaknesses in portfolio construction. Concentrated positions, hidden correlations and thin liquidity are easy to ignore when markets are calm and very costly when they are not, a theme we explored in what happens when liquidity disappears.
Why these results matter to us
Fund performance 2026 figures are meaningful to us not simply because they are positive, but because they were achieved in a market environment characterised by significant uncertainty and rapidly changing conditions.
Successful asset management is not only about capturing opportunities when markets are favourable. It is also about managing risk, adapting to changing conditions and maintaining discipline when markets become increasingly difficult. Periods like this one are where a disciplined investment process shows its value.
How to read year-to-date fund performance
Year-to-date figures measure the change in value from the start of the calendar year to the end of the reporting month. They are a useful snapshot, but a single number never tells the whole story. When evaluating any fund performance, we encourage investors to look at three things alongside the return itself:
- The path, not only the destination. How deep were the drawdowns along the way, and how quickly were they recovered? We explain why in why drawdowns matter more than returns.
- The conditions. A positive result in a difficult month says more about a process than the same result in a calm one.
- Consistency with the mandate. Returns should come from the strategy the fund describes, not from risks it was never meant to take.
Diversification across strategies
The four results above come from strategies with different drivers: currency markets, real estate, global growth assets and high yield. Their returns are not meant to move together, and that is the point. In a month when one source of return is under pressure, another can hold steady. Diversification does not remove risk, and correlations can rise sharply in stress, but combined with clear exposure limits it is one of the most reliable ways to keep fund performance resilient across different market environments.
Our focus for the final quarter of 2026
As we enter the final quarter and look beyond the fund performance 2026 figures, our focus remains unchanged:
- Disciplined execution
- Active risk management
- Diversification
- Long-term perspective
What will be the key challenge for investors in Q4 2026? We are discussing it on LinkedIn. For background on how regulated investment funds report results, the European Securities and Markets Authority publishes guidance on fund information for investors.
Past performance is not indicative of future results. This content is provided for information purposes only and does not constitute an offer, solicitation or investment advice.
