Absolute Asset Management's Macro Diversified Fund (USD) returned -2.37% in November, bringing their YTD performance to -24.62%. This compares favourably to the MSCI's YTD return of -43.81%.
During November Absolute observed that most markets remained weak, but are optimistic that opportunities will present themselves in 2009. Unlike other hedge fund managers Absolute has not been affected by mass redemptions, so has been able to maintain liquidity in the fund while at the same time pursuing a macro diversified strategy.
Absolute's other funds experienced mixed results in November. Their Asian REIT Property Fund was down -3.48%, while their Trading 1 Fund, which trades in the FX market, was up +0.76%.
