Page header cover

May performance of Element ONE

Element ONE 
Issuer: ELEMENT ONE LTD 
ISIN Number: VGG299771086 
IssueDescription: USD CL B SHS 
ISO CFI: CICXXX

Element ONE investment fund performed +1,28% during May 2021

  • Share price — $1 845,91.
  • Two SPAC companies (Stable Road Acquisition Corp и Property Solutions Acquisition Corp) positively affected the fund’s share price
  • Public company Datto (Nyse: MSP) increased by +6,55% by the end of May.

5 best-performing companies in our portfolio:

  1. Cinemark (Nyse: CNK)
  2. Immunome (Nasdaq: IMNM)
  3. Moderna (Nasdaq: MRNA)
  4. Stable Road Acquisition Corp (Nasdaq: SRAC)
  5. Property Solutions Acquisition Corp (Nasdaq: PSAC)

In the independent rating of investment analysts —invest-idei.ru, Raison Asset Management is ranked 3rd out of more than 50 companies.

S&P 500

In May, the S&P 500 index appreciated by 0,55% from 4181,5 to 4202,5. which helped it to reach an all-time high of $4211.The index is trading at its maximum values. In May, another historic high was recorded at the level of 4183.5.

As vaccinations continue (more than 50% of the population is already vaccinated), the US economy continues to recover. In parallel with the recovery, inflationary risks are growing — the market is waiting for action from the Fed.

The US Federal Reserve announced that it will begin to reduce the balance sheet of corporate bonds purchased last year through the emergency lending mechanism and will sell the entire portfolio by the end of the year. However, the Fed still has room for manoeuvre. The dynamics of the recovery of the labour market — one of the main guidelines in the FED policy — is slowing down. The regulator will determine the medium-term vector in monetary policy at the FOMC meeting on June 16, 2021.

A the same time the European Union will spend 750 billion euros ($ 915 billion) in grants and loans to stimulate the economic recovery, with spending gradually increasing from the second half of this year.

Central bank rates

  • FED: 0,25% (prev 0–0,25%)
  • ECB: 0% (prev 0–0%)
  •  CB of RF: 5,00% (prev 4,50%)

USA, Europzone, Japan: inflation (upper graph) and rates (lower graph)

Unemploymnet rates

  • USA: 5,8% (prev 6,1%);
  • Russia: 5,2% (prev 5,4%);
  • Eurozone: 8,0% (prev 8,1%);
  • China: 5,3% (prev 5,5%).

Commodities market

The total commodity market represented by the Invesco DB Commodity Index Tracking Fund (ETF) grew by 2.88% from 18.08 to 18.6. Gold In May, the price for gold futures (GC) increased by 7.76%, reaching $ 1905.3 at the end of the month.

Metals prices are up 72% from pre-pandemic levels and peaked in 9 years.
The growth affected many industrial metals: copper in May rose 89% (year on year), iron ore — by 116%, nickel — by 41%.

Oil 

The oil market saw a slight increase, with futures for the WTI brand up 4.21% to close the month at $ 66.32 / bbl.

COVID-19

The European Parliament approved the introduction in the European Union of a unified COVID-19 vaccination certificate from July 1.

Since April, there has been a decrease in the total number of infections on average around the world.