Absolute Return funds surveyed by Australian Fund Monitors (AFM) that have reported November results indicates it was a
much improved month for the industry with quite diverse results. To date the average return for the month is negative 2.51% with 37% of funds in AFM's database having reported.
The best performing strategies have again been non equity based (i.e. Global Macro, Commodities, Currencies and
Managed Futures). Equity based strategies have suffered less than in September and October, significantly outperforming
the S&P/ASX200 Accumulation Index and the S&P500 Total Return Index which fell 6.20% and 7.18% respectively for the
month.
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