Pivotal Point of View — December 2020

Published 11 January 2021 · Covers December 2020

Originally issued as December 2020.

The PivotalPath Hedge Fund Composite Index was up 4.3% in December, with 95% of funds reporting positive performance. 74% of managers ended 2020 in positive territory, with the Composite up 11.7% for the year.

+3.9%Composite, December

+11.4%Composite, year to date

+8.7%Composite, Q4

Event DrivenLeading strategy

Headline strategy indices

Strategy	December	Year to date
Event Driven	+6.2%	+16.1%
Equity Sector	+4.7%	+25.0%
Equity Diversified	+4.3%	+13.4%
Managed Futures	+4.2%	+1.2%
Multi-Strategy	+3.9%	+12.9%
Global Macro	+3.2%	+4.9%
Credit	+2.4%	+5.4%
Volatility Trading	+1.5%	+9.9%
Equity Quant	+1.2%	−4.6%

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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