CQA Model Portfolio Remarks – Dec. 2020

The Coquest Advisors Model Portfolio gained an estimated +3.8% during December, bringing 2020 performance to approximately +0.6% YTD. Trend following was the largest contributor to positive performance. The strategy was able to capture significant profits from long global equity, long commodity, and short U.S. dollar trades. Systematic Global Macro was the second largest contributor to performance. In part, this is thanks to profitable relative value positions across global fixed income markets. Fundamental Equity Index Timing and Fundamental Energy Trading also contributed positively, due to bullish positions in U.S. equities and propane, respectively. Short Term Pattern Recognition was the sole detractor from performance during the month. This was due primarily to short trades across a variety of U.S. equity indices.