The Stonehouse Core Value Portfolio (CVP) fell -0.25% over the month of November as markets failed to gain traction in light of considerable headwinds from declining resource prices and concerns about an imminent increase in the US Federal Reserve Funds rate by the US central bank.
Over the month, positive performances came from our defensive holdings volatility managers 36 South (+3.41%), as well as trend followers AQR Managed Futures (+2.91%) and Cantab (+3.67%). Encouragingly, domestic long/short equity managers Bennelong (+0.65%) and Blackrock (+1.32%) also recorded positive results.
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