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Global financial markets gained through mid-February as investors continued to position for policy changes relating to global trade and immigration. Technology, energy, and cyclicals led global equity markets, while Germany, Spain, and China led regional market gains. Interest rates increased, led by increases in shorter-dated maturities, and the US Dollar declined against most currencies. A surge in Natural Gas led all commodity gains, while Copper, Gold, Coffee, and Hogs also gained.

The HFRI-I Liquid Alternative UCITS Index gained +0.60% through mid-February.

Comments reference performance figures as of February 17th, 2025