1) A summary of October performance
As can be seen from the table below, (which is ranked by average October 2018 returns for each main mandate) the last month again proved a difficult one, with average YTD returns now all negative.
2) Fund Flows
Key features of fund flows for October were inflows for Global Passive Funds and outflows for Global Active Funds. In terms of other main mandates in our sample, Income funds saw outflows and infrastructure funds inflows (for the first month this year).
3) Focus: Alternative Strategies
This month we take a look at the Alternative Strategies (as distinct from traditional long only regional mandates). We look at the divergence of risk and return performance available in absolute terms, and relative to traditional mandates. The question we are seeking answer is whether the different strategies have produced materially different risk and return profiles to a standard mandate. Our findings are as follows: