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Greenwich Composite Investable Index shed 0.58% in November (+1.28% YTD)

Tuesday, December 21, 2010
0palesque Industry Update – The Greenwich Composite Investable Index shed 0.58% in November, a month defined by volatile trading in equities and fixed income. Two of nine Greenwich Investable Indices moved higher on the month, with most strategies exhibiting slight losses.

The Greenwich Arbitrage Investable Index was the best performer for the month, gaining 0.88%, putting its year-to-date return at nearly 10%. The Greenwich Event-Driven Investable Index also advanced, netting 0.35% as positions in special situations and distressed assets performed better than blue chip equities. Laggards on the month included Futures managers as trend-following strategies experienced a reversal of fortune. Year-to-date, Arbitrage, Event-Driven, and Long-Short Credit strategies still lead other Investable Indices, all with net returns above 7%.

“The upswing in equities following the Fed’s announcement of quantitative easing was short-lived as markets spent the rest of the month consolidating their gains and trading downward. Hedge funds showed mixed results as managers prepared for what many expect to be a seasonal upswing in December,” noted Clint Binkley, Senior Vice President. “Overall, funds that trade in fixed-income securities appear to be having a more favorable year than equity-based managers. Even though there is talk of inflated asset prices in bonds, managers are optimistic about prospects heading into 2011. ”

(press release)

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