20.12.2016 Greenwich Global Hedge Fund Index up +0.58% in November
Opalesque Industry Update - November 2016 was one of the most eventful months in recent memory, highlighted by the dramatic conclusion of the U.S. presidential election. Equities answered an overnight selloff in the futures markets with a sharp and sustained rally to new all-time highs in multiple indices. In contrast, bonds were crushed, with the Barclays Aggregate Bond Index producing its worst monthly return (-2.37%) in over a decade. Hedge fund returns were mostly positive despite November’s volatility, a reflection of their stated intention as risk-adjusted alternatives.

Global Index Strategy Highlights

  • The rotation into value stocks was on full display in this month’s indices, with the +1.66% return of the Value index outpacing all other long-short equity strategies in November and year-to-date as well.
  • The Long-Short Credit Index was down only -0.23%, a notable performance given the significant selloff in the bond market.
  • The Directional Trading Group struggled with November’s volatility and was essentially flat on the month.

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