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Alternative Market Briefing

Outperforming hedge funds, Wilshire Liquid Alternative Index down -0.10% in November

Friday, December 14, 2018

Laxman Pai, Opalesque Asia:

Outperforming the -0.62% monthly return of the HFRX Global Hedge Fund Index, the Wilshire Liquid Alternative Index returned -0.10% in November.

Jason Schwarz, President of Wilshire Funds Management and Wilshire Analytics said: "Markets experienced mixed performance in November as equities rebounded and credit markets generally declined.

Markets closely monitored the potential impacts of strained trade relations, declining oil prices, and future monetary policy communications, he said.

The Wilshire Liquid Alternative Index provides a representative baseline for how the broad liquid alternative investment category performs.

The Wilshire Liquid Alternative Multi-Strategy Index, which includes both single and multi-manager funds, returned -0.17% in November. The Wilshire Liquid Alternative Global Macro Index, meanwhile, ended the month down -0.66%, underperforming the -0.19% return of the HFRX Macro/CTA Index.

CTAs led the index's negative return due to the choppy equity market environment, without meaningful trends in most other asset classes, while Discretionary macro managers generally performed well given the heightened volatility environment.

The Wilshire Liquid Alternative Relative Value Index ended the month down -0.18%, outperforming the -0.66% return of the HFRX Relative Value Arbitrage Index.

Credit markets saw spread widening and retail outflows, particularly in the leveraged loan space, while managers with......................

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