Coquest 40 Index November 2019 Update

The Coquest 40 recouped some of the losses from the previous two months, finishing up 0.98% for November. Year to date the 40 remains in positive territory, up 8.20%. Positive performance for the month across all strategy buckets within the 40 was primarily driven by gains in global equities, particularly US indices, which reached record highs, as well as long USD positions. Trend following constituents make up the bulk of the index and finished up 0.75% for the month on a weighted average basis. Performance for the systematic non-trend managers included in the index, which largely consists of systematic global macro managers, was mostly positive finishing up 1.02% due to the USD rallying vs developed countries. The foreign exchange and short term managers included in the index make up the remaining assets in the Coquest 40 and ended the month of November up 2.48% and 1.21% respectively. The stronger USD contributed to gains in FX strategies, while short term strategies were able to capture returns trading currencies and equity indices.