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All but one of Barclay’s 17 hedge fund indices gained ground in December. The European Equities Index led the way with a 1.96% gain, Global Macro gained 1.87%, Distressed Securities gained 1.86%, the Event Driven Index was up 1.70%, and Equity Long Bias added 1.54%.

“The ‘Trump bump’ in the US and positive economic news in Europe continued to drive equity prices higher in December,” says Sol Waksman, founder and president of BarclayHedge.

At the end of 2016, thirteen Barclay hedge fund indices had gains for the year. Distressed Securities were up 14.39%, the Event Driven Index gained 11.30%, Emerging Markets were up 10.31%, Merger Arbitrage gained 6.06%, and Technology earned 5.86%.

“Distressed Securities ended the year with ten straight months of gains due to increased trading activity, as 2016 turned out to be the fifth highest year of total debt default on record,” says Waksman.

“Funds that have successfully identified mispriced distressed securities have been able to reap ample rewards.”

The European Equities Index lost 4.24% in 2016, and the Healthcare and Biotechnology Index was down 2.76%.

The Barclay Fund of Funds Index gained 0.83% in December, and ended 2016 with a loss of 0.53%.