C8/GreenBlue Good Governance US Equity L/S Certificate – November 2021

The certificate fell by 1% on the month.  The Good Governance premia had been making steady gains before falling, towards the end of the month, as volatility returned to US stocks (the certificate is already back higher in early December).
BY JON WEBB

C8 GBI Good Governance November 2021 Monthly Report – Cirdan Capital

Commentary

The certificate fell by 1% on the month.  The Good Governance premia had been making steady gains before falling, towards the end of the month, as volatility returned to US stocks (the certificate is already back higher in early December).

Looking at the performance of the underlying equities, Tech continues to perform well with Nvidia, HP and Apple the headline outperformers. There was underperformance in Healthcare, as Merck and Waters lost ground after last month’s sharp rise, whilst potential lawsuits against Activision have knocked that stock.

Overall positioning is unchanged in December, with a L/S of 2.25/1.85.

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