Pivotal Point of View — January 2020

Published 20 February 2020 · Covers January 2020

Originally issued as January 2020.

The PivotalPath Hedge Fund Composite Index started the year up slightly, returning +0.3% in January. Across the fund universe, there was fairly wide dispersion between top and bottom performers for the month, with 1st quartile managers up +4.0% and 4th quartile managers down -4.0%, on average.

+0.2%Composite, January

+0.2%Composite, year to date

−8.6%Composite, Q1

Managed FuturesLeading strategy

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Headline strategy indices

Strategy	January	Year to date
Managed Futures	+1.4%	+1.4%
Credit	+0.7%	+0.7%
Volatility Trading	+0.7%	+0.7%
Multi-Strategy	+0.7%	+0.7%
Equity Sector	+0.5%	+0.5%
Global Macro	+0.3%	+0.3%
Event Driven	−0.2%	−0.2%
Equity Quant	−0.4%	−0.4%
Equity Diversified	−0.6%	−0.6%

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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Pivotal Point of View — January 2020

Headline strategy indices

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