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Year: 2025

17 Dec 25

November 2025 – Gold mines shine again

FUNDS Month 2025 12 months 3 years Accum. Altex Momentum +1,64% +9,87% 3,64% 52,41% Altex Quality +0,04% +12,52% 11,02% 76,96% Altex Growth +2,27% +10,03% 2,15% 48,20% Altex Tactical -1,26% +3,26% -3,28% N/A Markets: November was a positive month for our funds thanks to the contribution of our hedging strategy. Altex…
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13 Oct 25

September 2025: The Fed gives wings to markets

FUNDS Month 2025 12 months 3 Years Acum. Altex Momentum +2.84% +8.97% 13.88% 56.71% Altex Quality +5.56% +11.14% 24.48% 79.00% Altex Growth +5.02% +8.89% 15.17% 48.95% Altex Tactical +2.58% +6.49% -1.48% N/A Markets: This was another spectacular month for our funds –all posted returns above their historical averages– especially considering…
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11 Sep 25

August 2025 – Active management shines

FUNDS MTD 2025 12 months 5 Years Acum. Altex Momentum +2.93% +5.96% +10.25% +40.26% Altex Quality +1.23% +5.29% +18.75% +50.54% Altex Growth +2.54% +3.68% +8.65% +27.09% Altex Tactical +3.23% +3.81% -7.53% N/A Markets: August was a very good month for our funds: they all posted positive returns, outperforming the euro…
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19 Aug 25

July 2025 – Growth factor shines again

  FUNDS Month 2025 12 Months 3 Year Acum. Altex Momentum +0.08% +2.94% 9.84% 32.37% Altex Quality +0.52% +4.01% 18.23% 43.66% Altex Growth +2.91% +1.11% 9.65% 18.33% Altex Tactical +3.12% +0.56% -10.64% N/A Markets: Our funds posted gains between +3.12% and +0.08% in euros. Altex Growth and Altex Tactical led…
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13 Jun 25

May 2025 – V-shaped Recovery

FUNDS Month 2025 12 months 5 years Accum. Altex Momentum +5.51% +1.01% 11.80% 35.94% Altex Quality +8.11% +1.05% 20.21% 72.47% Altex Growth +5.79% -2.89% 7.08% 30.8% Altex Tactical +3.31% -4.49% -14.49% N/A Markets: After the storm, came the calm, or rather, the buying urgency. The recovery in May was almost…
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14 Apr 25

March 2025 – Tariff uncertainty

FUNDS Month 2025 12 months 5 years Accum. Altex Momentum -3.60% -4.04% 1.90% 54.91% Altex Quality -6.73% -7.42% 5.36% 89.13% Altex Growth -2.66% -7.31% -5.85% 52.64% Altex Tactical -3.77% -6.93% -16.06% N/A Markets: In March, indices were negative, dragged by the uncertainty the announcement of tariffs were beginning to generate,…
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18 Mar 25

February 2025 – Market correction begins

FUNDS Month 2025 12 months 5 years Accum. Altex Momentum -1.89% -0.45% 7.27% 52.79% Altex Quality -4.96% -0.74% 13.65% 78.98% Altex P. Growth -8.86% -4.78% -0.37% 53.01% Altex Tactical -2.21% -3.29% -12.07% N/A Drop in our equity funds: Altex Momentum -1.89%, Altex Quality -4.96% and Altex P. Growth -8.86%. In…
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