Abstract
- Through the second quarter of 2025, the Goldman Sachs Commodity Technique Fund (GCCIX-net of charges) underperformed its benchmark, the Bloomberg Commodity Index Complete Return (“BCOM”) by (0.2%).
- The Fund outperformed in agriculture and treasured metals, carried out in-line in industrial metals, and underperformed in power and livestock.
- The Fund’s agriculture publicity added 0.1% to gross relative efficiency versus the BCOM throughout the quarter.
Shutthiphong Chandaeng/iStock through Getty Photographs
Market Overview
Through the second quarter of 2025, commodity markets declined -3.1% as measured by the Bloomberg Commodity Index Complete Return (BCOM). Power costs declined by 10.9% because the introduction of recent US tariffs and OPEC+’s accelerated unwinding of manufacturing
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