Year-End Summary for Proprietary and Commodities Trading

Throughout 2025, CF&E Investments Group’s trading operations across Rates, FX, Equities, and Commodities performed exceptionally well, generating a total realised profit of USD23.4 million. This comprised USD13.7 million from the Rates, FX & Equities desk and USD9.7 million from CF&E Commodities Asia. These results reflect disciplined capital deployment, robust risk management, and the continued refinement of our proprietary trading framework across diverse market conditions.

During the year, our trading teams navigated a challenging environment, with shifting interest rates, volatile currencies, evolving equity trends, and complex global supply–demand dynamics in commodities. Through careful risk management, proactive position adjustments, and disciplined execution, the teams successfully captured market inefficiencies and short- to medium-term opportunities, while preserving capital and maintaining strong, stable performance.

The consistent excellence across all asset classes underscores the strength of our systematic frameworks, the depth of our market intelligence, and the effectiveness of our strategic positioning. It also demonstrates the value of our integrated, cross-asset approach, where insights from Rates, FX, Equities, and Commodities inform decision-making, enhance execution quality, and support resilient, risk-adjusted outcomes.

With the year’s trading activities now concluded, CF&E enters 2026 from a position of operational strength and financial discipline. Looking ahead, we are equipped with enhanced analytical capabilities, a broader set of opportunities, and a more robust trading infrastructure. Anchored by clear strategic direction and prudent risk management, the Group is well positioned to scale its proprietary trading operations and pursue the next phase of sustainable, long-term growth.