Strategic Analysis - December 2022 by Kettera

In the financial world, December saw a mix of results across various asset classes and strategies, according to data available.

The Eurekahedge Long Volatility Index and the Eurekahedge Event-Driven Hedge Fund Index, two financial benchmarks, provided a stable foundation for investors. However, the performance of other indices varied.

Equities were generally negative on long exposures in the US and Europe, reflecting a challenging market environment. On the other hand, FX programs were all over the map, with performance depending on strategy and time frame. Short-term systematic programs, for instance, were able to catch the sharp reversal in USD vs the Japanese yen and the Euro.

Commodities were mixed across agricultural grains, energy, and base metals. Agricultural commodities specialists saw mixed performance, with corn, soybeans, and soy-meal up on the month, driven by adverse weather in Argentina. Wheat, however, was choppy and range-bound, and soybean oil was sharply lower. Key base metals like iron ore, tin, and to a lesser extent copper also rallied, contributing to positive returns for metal specialists.

Energy trading specialists, particularly those focused on natural gas, saw strong returns in December.

Systematic trend strategies were mixed and ultimately negative. Discretionary programs dependent on fundamentals were surprised by the USD turnaround, which affected FX and fixed income and short-term rates positively on short positioning in Europe and the US.

The performance trends of industrial commodities, energy, metals, systematic trend programs, discretionary global macro programs, agricultural commodities, currency specialists, and agricultural and currency benchmarks in December as reported by Kettera Strategies could not be directly found in the search results. For the most accurate and recent performance updates, it would be best to consult their official monthly or quarterly reports directly or reach out to Kettera Strategies.

It is important to note that the views expressed in this article are not necessarily those of AlphaWeek or its publisher, The Sortino Group. The indices and other financial benchmarks mentioned are provided for illustrative purposes only. The "style baskets" are not investible products or index products being offered to investors. These are classifications drawn by Kettera Strategies in their review of programs on and for the Hydra Platform.

The benchmark sources are a blend of Hedge Fund Intelligence Global Macro Index and Eurekahedge Macro Hedge Fund Index, and The Hedge Fund Intelligence Global Macro Beta Index. The Barclay Fixed Income Arbitrage Index, the Societe Generale Trend Index, the Societe Generale Short-term Traders Index, the Bridge Alternatives Commodity Hedge Fund Index, the Barclay Agricultural Traders Index, the Barclay Discretionary Traders Index, the Barclay Hedge Fund Multi Strategy Index, and the Barclay Hedge Crypto Traders Index are among the financial benchmarks mentioned. The Eurekahedge Relative Value Volatility Hedge Fund Index and the Eurekahedge Asset Weighted Multi Strategy Asset Weighted Index are also included. Lastly, the Eurekahedge AI Hedge Fund Index was highlighted as a benchmark.

Cattle rallied and rewarded programs with long directional and long-biased bull spread exposures, providing a positive note for the month. The Barclay Crypto Traders Index, although not mentioned specifically in relation to December's performance, is a financial benchmark that tracks the performance of crypto traders.

In conclusion, December presented a mixed bag of results across various asset classes and strategies. For the most accurate and up-to-date information, investors are encouraged to consult directly with Kettera Strategies or refer to their official reports.