August was another tough trading month with all asset classes suffering moderate losses. DropShot returned -1.47% vs -2.09% for Barclay’s Balanced Index and -4.36% for ACWI. The algorithm managed to weather most of the storm through strong timing, particularly in US equities where the fund had a positive return compared to -3% down for the broader market. The algorithm also continued to manage risk well, capturing 100% of the market moves on up days while taking only 72% of the downside. The risk system also continues to carry a significant cash position to help mitigate its exposure to the increased market volatility.