Bowmoor Global Alpha Fund Suffers 5.54% June Drawdown

The Bowmoor Global Alpha Fund suffered a notable drawdown in June, recording a return of -5.54%. This marked its second significant decline for 2026 after a March downturn, although strong performance in April and May helped recover most of the earlier losses.

The fund's short positions in coffee and cocoa were primarily responsible for the decline, losing 2.45% and 1.14%, respectively. The price of cocoa rose from $3,990 per tonne to $5,060 per tonne during June, while coffee surged from $260 per lb to $300 per lb.

The fund's currency positions also contributed to the decline, with the reversal of its long Australian dollar exposure trimming returns.