Pivotal Point of View — September 2020

Published 13 October 2020 · Covers September 2020

Originally issued as September 2020.

High-level strategies performed within 220 bps of each other in September, ranging from down 1.2% (Managed Futures) to up 1.0% (Event Driven). YTD is a different story, with almost 14% separating the top, Equity Sector up 10.3%, from the bottom, Managed Futures down 3.4%. Interestingly, our Composite’s dispersion is 2.8% for the month, just below the long-term average (2.9%).

−0.2%Composite, September

+2.4%Composite, year to date

+3.7%Composite, Q3

Multi-StrategyLeading strategy

Headline strategy indices

Strategy	September	Year to date
Multi-Strategy	+0.7%	+5.1%
Credit	+0.7%	−0.6%
Event Driven	+0.2%	+1.5%
Equity Sector	+0.2%	+10.5%
Equity Quant	−0.5%	−4.4%
Volatility Trading	−0.6%	+8.3%
Equity Diversified	−0.9%	+2.5%
Global Macro	−0.9%	+0.3%
Managed Futures	−1.2%	−3.6%

Net of fees, in USD. The Composite plus the nine headline indices with a published monthly series; ordered by month return.

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