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Global financial markets surged to record highs in November as uncertainty regarding the US election declined and optimism regarding advancements on coronavirus vaccines accelerated. Global equity markets surged across most regions with strong gains in most sectors led by Cyclicals, Energy and Financials with regional gains across US, UK, France, Italy and Japan. US interest rates declined as the US dollar weakened while cryptocurrencies surged to record highs. Oil & Energy led commodity gains for the month and Platinum, Copper, Cocoa and Soybeans also gained.
UCITS Hedge Funds strategies advanced in November with the HFRI-I Liquid Alternative UCITS Index gaining 2.79% for the month.

HFRI-I Equity Hedge Index 3.92% in November
HFRI-I Event Driven Index posted a gain of 3.37%
HFRI-I Macro Index gained 1.24%
HFRI-I Relative Value Arbitrage Index posted a gain of 2.65%

Comments reference performance as of November 30, 2020