The Lyxor Hedge Fund Index was up +1.3% in November (YTD +0.1%). 8 out of 12 Lyxor Indices ended the month in positive territory, led by the Lyxor CTA Long Term Index (+7.8%), the Lyxor CTA Long Term Index (+5.9%), the Lyxor Special Situation Index (+3.0%) and the Lyxor Lyxor L/S Equity Market Neutral Index (+1.6%).
The rally that started in mid-October extended throughout November without affecting major sovereign bonds. Risky assets were supported by a reflation momentum in Japan, China and, prospectively, in Europe. Meanwhile the acceleration of the plunge in crude oil prices triggered a crossasset repositioning, offering numerous thematic trades. CTAs delivered an impressive +7.8% over the month, followed by their ST models peers, the Special Situations and the L/S Equity Long bias funds. Credit strategies lagged over the month.
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