December 2009 Monthly Report
January 12 2010 - 2:00AM
UK Regulatory
TIDMCROP
RNS Number : 3498F
Ceres Agriculture Fund Limited
12 January 2010
Ceres Agriculture Fund -
Release of December 2009 Monthly Report
The Ceres Agriculture Fund Limited ("Ceres"), a new Guernsey domiciled,
closed-ended investment company established to invest in an actively managed
portfolio of exchange-traded agricultural commodity contracts and derivatives
managed by FourWinds Capital Management is pleased to announce its results for
the month of December 2009.
Overall Ceres was flat (0.00%) during the month leading to a composite
annualised return of -0.97%. This was primarily driven by gains in the
tropicals and offset by losses in grains, livestock and fibers sectors.
A summary of performance is shown below.
+-------------+---------+-----------------------------+-----------------------------+
| Performance (USD Share Class): |
+-----------------------------------------------------+
| Date | NAV | Fund (Net) |
| | | |
+-------------+---------+-----------------------------------------------------------+
| 31/12/07 | 1.02 | 2.00% |
+-------------+---------+-----------------------------------------------------------+
| 31/01/08 | 1.03 | 0.98% |
+-------------+---------+-----------------------------------------------------------+
| 29/02/08 | 1.06 | 2.91% |
+-------------+---------+-----------------------------------------------------------+
| 31/03/08 | 1.04 | -1.89% |
+-------------+---------+-----------------------------------------------------------+
| 30/04/08 | 1.05 | 0.96% |
+-------------+---------+-----------------------------------------------------------+
| 31/05/08 | 1.05 | 0.00% |
+-------------+---------+-----------------------------------------------------------+
| 30/06/08 | 1.09 | 3.81% |
+-------------+---------+-----------------------------------------------------------+
| 31/07/08 | 1.07 | -1.83% |
+-------------+---------+-----------------------------------------------------------+
| 31/08/08 | 1.07 | 0.00% |
+-------------+---------+-----------------------------------------------------------+
| 30/09/08 | 1.05 | -1.87% |
+-------------+---------+-----------------------------------------------------------+
| 31/10/08 | 1.04 | -0.95% |
+-------------+---------+-----------------------------------------------------------+
| 30/11/08 | 1.04 | 0.00% |
+-------------+---------+-----------------------------------------------------------+
| 31/12/08 | 1.04 | 0.00% |
+-------------+---------+-----------------------------------------------------------+
| 31/01/09 | 1.03 | -0.96% |
+-------------+---------+-----------------------------------------------------------+
| 28/02/09 | 1.02 | -0.97% |
+-------------+---------+-----------------------------------------------------------+
| 31/03/09 | 1.02 | 0.00% |
+-------------+---------+-----------------------------------------------------------+
| 30/04/09 | 1.03 | 0.98% |
+-------------+---------+-----------------------------------------------------------+
| 31/05/09 | 1.05 | 1.94% |
+-------------+---------+-----------------------------------------------------------+
| 30/06/09 | 1.03 | -1.90% |
+-------------+---------+-----------------------------------------------------------+
| 31/07/09 | 1.03 | 0.00% |
+-------------+---------+-----------------------------------------------------------+
| 31/08/09 | 1.01 | -1.94% |
+-------------+---------+-----------------------------------------------------------+
| 30/09/09 | 1.01 | 0.00% |
+-------------+---------+-----------------------------------------------------------+
| 31/10/09 | 0.98 | -2.97% |
+-------------+---------+-----------------------------------------------------------+
| 30/11/09 | 0.98 | 0.00% |
+-------------+---------+-----------------------------------------------------------+
| 31/12/09 | 0.98 | 0.00% |
+-------------+---------+-----------------------------+-----------------------------+
Performance Statistics:
+-----------------------+---------+--------------+
| | Ceres | DJ UBS AG TR |
+-----------------------+---------+--------------+
| Average Monthly | -0.08% | -0.47% |
| Return | | |
+-----------------------+---------+--------------+
| Largest Monthly | 3.81% | 16.21% |
| Return | | |
+-----------------------+---------+--------------+
| Largest Monthly Loss | -2.97% | -16.48% |
+-----------------------+---------+--------------+
| Comp. Annualised | -0.97% | -5.46% |
| Return | | |
+-----------------------+---------+--------------+
| Percent Winning | 64% | 56% |
| Months* | | |
+-----------------------+---------+--------------+
| Sharpe Ratio (5%) | Neg. | Neg. |
+-----------------------+---------+--------------+
| Standard Deviation | 5.61% | 31.30% |
+-----------------------+---------+--------------+
| Maximum Drawdown | -10.09% | -46.82% |
+-----------------------+---------+--------------+
| Months in Max | 18 | 22 |
| Drawdown | | |
+-----------------------+---------+--------------+
| Months to Recover | N/A | N/A |
+-----------------------+---------+--------------+
* Positive months or flat
Breakdown by sector:
+-----------------------+---------+
| Grains | 44% |
+-----------------------+---------+
| Fibers | 4% |
+-----------------------+---------+
| Tropicals | 16% |
+-----------------------+---------+
| Livestock | 17% |
+-----------------------+---------+
| Other | 15% |
+-----------------------+---------+
| Cash | 4% |
+-----------------------+---------+
Breakdown by strategy:
+-----------------------+---------+
| Discretionary Trading | 92% |
| | |
+-----------------------+---------+
| Systematic Trading | 4% |
+-----------------------+---------+
| Cash | 4% |
+-----------------------+---------+
Trade horizon allocation:
+-----------------------+---------+
| Short term | 32% |
+-----------------------+---------+
| Medium term | 44% |
+-----------------------+---------+
| Long term | 20% |
+-----------------------+---------+
| Cash | 4% |
+-----------------------+---------+
Contribution by sector (during the month):
+-----------------------+---------+
| Grains | -0.08% |
+-----------------------+---------+
| Fibers | -0.03% |
+-----------------------+---------+
| Tropicals | 0.18% |
+-----------------------+---------+
| Livestock | -0.04% |
+-----------------------+---------+
| Other | -0.03% |
+-----------------------+---------+
A full report is available on the Company website: www.ceresagriculture.com
Further enquiries:
FourWinds Capital Management, Investment Manager and Co-Placing Agent
Kimberly Tara info@fourwindscm.com
Cenkos Securities plc, Corporate Broker
Will Rogers +44 (0)20 7397 1920
Dion Di Miceli +44 (0)20 7397 1921
HSBC Securities Services (Guernsey) Limited, Administrator
Tel: +44 (0) 1481 707 000
Citigate Dewe Rogerson, PR Advisor
Sarah Gestetner /Lindsay Noton +44 207 638 9571
End.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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