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Global financial markets extended gains in December to conclude a strong and volatile 2020, as investors focused on continued rising coronavirus cases, rollout of several vaccines and the resolution of the US senate election; cryptocurrencies extend the recent surge. US equities gained led by small caps, while Technology, Energy and Cyclical sectors all led gains; European & Asian equities also gained. US interest rates increased while European rates were little changed; the US Dollar fell against most currencies led by the Euro, British Pound Sterling and Swiss Franc. Oil led commodity gains while Metals were led by Platinum & Silver; Wheat, Lumber & Corn all surged in Agricultural commodities. 
 
UCITS Hedge Funds strategies advanced in December with the HFRI-I Liquid Alternative UCITS Index gaining +1.74% for the month.

HFRI-I Equity Hedge Index gained +2.24%
HFRI-I Event Driven Index posted a gain of +2.08%
HFRI-I Macro Index gained +1.45% 
HFRI-I Relative Value Arbitrage Index posted a gain of +1.33% 

 
Comments reference performance as of December 31, 2020