Marlin Global reports significant quarterly losses

Marlin Global, the investment company, has reported a decline in gross performance and adjusted net asset value (NAV) return for the March quarter.

The company's gross performance was down 7.9%, while the adjusted NAV return decreased by 8.1%.

In contrast, the global benchmark was down 3.5%.

Marlin attributed the underperformance to the impact of macro crosswinds on global stock markets, particularly in the US.

These crosswinds included policy uncertainty in the US, the "slash and burn" mode of the Department of Government Efficiency, and the ongoing China-US AI arms race.

The company said the extreme lack of clarity on US and global policy, along with the speed of global sector rotations, has created both challenges and opportunities.