Pivotal Point of View — November 2023

Published 13 December 2023 · Covers November 2023

Originally issued as December 2023.

The PivotalPath Composite Index rose 2.0% in November, bringing the Index to +5.8% YTD. The Index continues to generate positive alpha of 3.9% relative to the S&P 500 (S&P) over the last 12 months.

+1.9%Composite, November

+5.6%Composite, year to date

+2.9%Composite, Q4

Equity SectorLeading strategy

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Headline strategy indices

Strategy	November	Year to date
Equity Sector	+5.0%	+9.1%
Equity Diversified	+3.8%	+8.2%
Event Driven	+2.8%	+3.7%
Equity Quant	+2.7%	+7.9%
Multi-Strategy	+1.2%	+4.8%
Credit	+1.2%	+7.0%
Global Macro	−0.8%	+1.3%
Volatility Trading	−1.5%	+1.1%
Managed Futures	−3.0%	−1.8%

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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Pivotal Point of View — November 2023

Headline strategy indices

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