February saw a reversal of the year’s strong start. DropShot returned -3.34% compared to -2.07% for Barclays Balanced Index and -3.32% for ACWI. All asset classes were down for the month, as inflation fears resurfaced. The algorithm avoided some of the worst allocations and drawdowns. Year to date, the Fund maintains a positive risk profile with among the lowest volatility of all asset classes. On up days the fund captured 53% of the return while being exposed to 71% of down moves. The overall equity beta this month was 0.68.