The last month of the year the fund made a positive return of 0.32%. This number does not show the
performance differences between the different categories very well.
The best performing category was Multi Strategy, at the opposite side we found Event Drive & Risk arbitrage.
The biggest impact came from the US Dollar again. Although we hedged 30% of our US dollar exposure we
still had a negative impact on the final result. This was true for December, but also for the whole of 2017. The
Dollar (-13%) decline was one the investment events of 2017 and our fund suffered from it.
Within our biggest allocation, CTA strategies, there was one excellent performing manager, but the largest
part of our selection produced small positive returns.