Liquid Alternatives: The Wilshire Liquid Alternative Index Gains 3.19% in November
It outperformed the 2.82% return from the HFRX Global Hedge Fund Index.
The Wilshire index provides a representative baseline for the performance of the broader liquid alternatives space.
According to Wilshire Associates, the index aims “to deliver precise market measures for the performance of diversified liquid alternative investment strategies implemented through mutual fund structures, backed by a proprietary classification methodology.”
“The optimism around an impending vaccine rollout and the conclusion of the U.S. Presidential Election propelled markets to all-time highs in November,” said Jason Schwarz, Chief Operating Officer in a statement.
How the Wilshire indices fared
The Wilshire Liquid Alternative Index measures the collective performance of the five Liquid Alternative strategies that make up the firm’s Liquid Alternative Universe.
The Wilshire Liquid Alternative Index is designed to provide a broad measure of the liquid alternative market by combining the performance of the firm’s Liquid Alternative Multi-Strategy Index, Liquid Alternative Equity Hedge Index, Liquid Alternative Event Driven Index, Liquid Alternative Global Macro Index, and Liquid Alternative Relative Value Index.
Here is a recap of the individual indices.
- The Wilshire Liquid Alternative Equity Hedge Index gained 5.26% in November. That underperformed the HFRX Equity Hedge Index and its gain of 4.59%. Equity markets rode a swell of optimism based on positive vaccine news and the end of certainty surrounding the U.S. election. Prices reflected investors’ appetite for risk assets and lower market volatility.
- The Wilshire Liquid Alternatives Event-Driven Index gained 2.47% in November. That outperformed the 2.13% monthly return from the HFRX Event Driven Index.
- The Wilshire Liquid Alternative Global Macro Index finished November up by 2.03%. It outperformed the HFRX Macro/CTA Index and its monthly return of 1.70%.
- The Wilshire Liquid Alternative Relative Value Index finished the month up 2.31%. That beat the monthly gain of 2.29% from the HFRX Relative Value Arbitrage Index.
- The Wilshire Liquid Alternative Multi-Strategy Index returned 3.44% in November.
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