Altex Partners, autor en ALTEX AM

21 May 26

April 2026 – Optimism returns to markets

FUNDOS MTD 2026 12 months 3 years Accum. Altex Momentum -0.20% +4.27% +18.85% 47.06% Altex Quality +10.12% +15.91% +36.84% 80.87% Altex Growth +6.32% +19.35% +39.42% 52.90% Altex Tactical +6.40% -3.03% +13.43% N/A The funds that saw the sharpest falls in March are rebounding. In April, Altex Momentum was down -0.20%,…

13 Apr 26

March 2026 – War sends oil prices soaring; stock markets, gold, and bonds correct

FUNDS MTD 2026 12 months 3 years Accum. Altex Momentum -3.01% +4.48% +18.81% 46.83% Altex Quality -5.10% +5.27% +25.47% 63.88% Altex Growth -10.09% +12.26% +29.87% 42.27% Altex Tactical -5.32% -8.86% +5.90% N/A Although the funds fell due to uncertainty surrounding the war in the Middle East, equity funds are still…

10 Mar 26

February 2026 – Drums of war drive gold prices up

FUNDS MTD 2026 12 months 3 years accum. Altex Momentum +6.45% +7.72% +18.63% 52.98% Altex Quality +5.53% +10.92% +24.07% 80.73% Altex Growth +16.96% +24.85% +41.25% 69.57% Altex Tactical -3.10% -3.74% +8.54% N/A Market: Spectacular rally of our equity funds in a month when the major indices underperformed. Altex Growth (mid-cap…

20 Jan 26

December 2025 – Good returns in a “Trump” l’oeil year

FUNDS MTD 2025 12 months 3-Y Accum. Altex Momentum -0.68% +9.12% +9.12% 52.57% Altex Quality -1.93% +10.36% +10.36% 80.97% Altex Growth -2.54% +7.23% +7.23% 48.00% Altex Tactical 4.73% +8.14% +8.14% N/A Markets: Despite profit-taking in the year end sprint, 2025 closed with very positive figures. Large companies –Altex Quality’s investment…

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…

13 Nov 25

October 2025 – Large companies flex their muscles again

FUNDS Month 2025 12 months 3 year Acum. Altex Momentum -0.81% +8.10% 11.36% 52.78% Altex Quality +1.21% +12.48% 24.94% 75.48% Altex Growth -1.18% +7.60% 14.30% 47.69% Altex Tactical -1.80% +4.57% 0.06% N/A Markets: Our funds had mixed performances in October. Altex Quality benefited from the momentum of large companies, +1.21%,…

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…

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…

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…

17 Jul 25

June 2025 – U.S. markets at all-time highs once again

FUNDS MTD 2025 12 months 3 years Accum. Altex Momentum +1.83% +2.86% 11.80% 36.63% Altex Quality +2.39% +3.47% 20.21% 59.12% Altex Growth +1.17% -1.76% 7.08% 24.96% Altex Tactical +2.11% -2.48% -14.49% N/A Markets: Our Funds rose between +1.17% and +2.39%, in euros. Altex Momentum and Altex Quality protracted their gains,…