241130 A mixed bag in November
AUD EUR JPY and USD portfolio returns
Welcome to the 11th monthly performance report for Two Crows Systematic long-only Week#1 equity portfolios.
Some massive moves down in the USA market over the past couple days have everyone on edge, and the Two Crows portfolios have not been immune. But that is for next month’s letter — we are here to present November 2024 performance.
November 2024 Week#1 Commentary
November continued to be awful for our EUR portfolio, bleeding out another -2.6% and bringing YTD performance to -9.0% TWRR vs a moderately positive 3.2% for its Euronext 100 benchmark.
The AUD benchmark gained slightly against Two Crows, but we still best it by over 3.5x. The TCS JPY and USD portfolios continue to outperform their benchmarks, by ~10% and ~5% points respectively, with the USD portfolio riding the general wave of US markets which jumped up considerably over the month.
Our Two Crows Systematic portfolios keep to their YTD trend, in that TCS EUR looks quite terrible, whilst AUD, JPY and USD currently rank well against most HedgeNordic professional managers.
That said, I must confess my envy when looking at the performance of Asilo and HCP Focus, both of which are having a truly incredible year — congrats!
Week#1 Performance Tearsheets for November 30 2024
In addition to the performance figures stated above, PDF tearsheets for TCS Week#1 AUD, EUR, JPY and USD Model Portfolio performance figures and overview for the month of November 2024 follow:
AUD Portfolio & Benchmark:
EUR Portfolio & Benchmark:
JPY Portfolio & Benchmark:
USD Portfolio & Benchmark:
As always thanks for reading, more soon…