Bayou City Capital Mid-April Update
Bayou City Capital is up an estimated +0.25% to date in April, raising 2017 performance to +5%. Volatility has picked up this month- a triumvirate of delayed political reform, surprising military developments, and mediocre Q1 corporate earning has given the post-election rally reason to pause. Entering the month around the 12% mark, the VIX moved up 16% in short order as these events unfolded. Of note is the French election next week, when most of the month's remaining option risk premiums are focused upon. Given the market's quick emotional shift this month, the Fund's cautious approach has benefited performance.
Past Performance is Not Indicative of Future Results.