Growth Diversified Strategy (GDS): June 2025 Performance Highlights
We continue to navigate an increasingly dynamic and complex global environment, where traditional financial investment philosophies are being tested by unpredictable political developments and heightened market volatility.
The GDS Portfolio delivered a modest return of +0.30%. Importantly, the portfolio exhibited very low volatility throughout the month, a noteworthy achievement and a clear validation of our risk management approach. This stability, against a backdrop of intense global market volatility, stands as a strong testament to the resilience of our strategy.
After a very volatile April and a calmer may month we made another tactical adjustment in June—adding additional strategies for a further diversification this increased the invested percentage of the portfolio from 94% to 100%, we have kept the exposure toward more fixed-yield asset classes.
We remain fully committed to our all-weather investment strategy, anchored in disciplined risk management and a forward-looking philosophy. As the year unfolds, we are confident that our framework is well-positioned to seize opportunities and adapt effectively to whatever the markets may bring.
June 2025: Performance per Asset Class
The first six months of the year presented a complex and rapidly evolving investment environment, marked by heightened volatility across all asset classes and intensified geopolitical tensions. While these conditions have undoubtedly posed challenges, they also underscore the importance of adaptability and resilience in a well-diversified investment strategy.
Recent market dynamics have tested many investment approaches, forcing strategies to adjust to shifting global narratives and renewed political pressures. That said, we view this period not only as a test—but also as an opportunity: an opportunity to refine our positioning, strengthen our risk management, and reaffirm our long-term convictions.
Looking back, since the inception of the GDS Strategy on January 1, 2020, the results speak for themselves. A hypothetical equal-weighted allocation of 25% in each of the four major indices over the last five years and 6 months would have returned approximately +48%. In comparison, the GDS Portfolio achieved +80%, and did so with significantly lower volatility.
Growth Diversified VS Indices
Our risk management team has been closely monitoring opportunities with the potential to enhance the program’s performance. As a result, two new strategies were added in June, followed by the addition of two more strategies and removed 1 none performing strategy at the start of June.
In parallel, the risk team removed one strategy from the portfolio as part of their ongoing review and optimization process.
As of the beginning of June, the portfolio now consists of 19 distinct strategies, diversified across six different asset classes—reflecting our continued commitment to a robust, well-balanced, and adaptive investment framework.
Average Monthly Returns
GDS Allocation
June performance was positive, though it did not fully meet our expectations. That said, considering the market environment, we are very pleased with the result particularly the exceptionally low volatility within the portfolio during such uncertain times.
As part of our ongoing strategy refinement, we made the following allocation adjustments in June:
- Increased FX allocation from 48% to 54%
The above changes mean the portfolio is increased from 94% to 100% invested in month of June.
As always, we remain vigilant—continuously monitoring performance and market developments—and will continue making allocation decisions that support the resilience and long-term growth of the portfolio.
We remain proactive in our search for high-quality programs across additional sectors, with the aim of further diversifying and strengthening our portfolio.
Any new additions will be the result of a thorough evaluation process and must meet our stringent risk management criteria.
As always, any adjustments will be made with a clear focus on enhancing long-term performance, while maintaining our disciplined approach to risk.
June 2025 Contribution and Performance
The future and indices asset class have faced headwinds the last several past months and allocation has been decreased. It is important to highlight that—despite elevated volatility over the first 6 months of the year—our disciplined risk management practices have effectively contained drawdowns the first 3 months and preserved capital. This underscores the strength and reliability of our systematic approach in navigating complex market conditions.
You can now follow the GDS portfolio on the Barclay Hedge and soon on Eureka Hedge platforms.
Best Wishes,
The JPFS Investment Team
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