That brought the three-month annualized gain
to 25.3 percent, the fastest pace in figures going back to 1992.
The fund, which invests in a split of 60% stocks/40% bonds, convertibles, leveraged loans and cash, has beaten its category average every year since 2008 and returned a 9.2% annualized gain
since June 2006 when Giroux took the helm.
The HFRI Fund Weighted Composite Index has generated an annualized gain
of just 1.7% over the past five years.
Average hourly earnings declined one cent, for an annualized gain
of 2.5 percent, mostly because wages were unusually weak in December 2014.
Japan's economy - the world's third-largest - narrowly avoided a technical recession this year after its growth for the quarter ending September, initially thought to have fallen by 0.8 percent, was revised to an annualized gain
of 1 percent, according to (http://www.esri.cao.go.jp/en/sna/data/sokuhou/files/2015/qe153_2/gdemenuea.html) official data in December, giving the BOJ some leeway to adjust monetary policy and stimulus measures.
Although that's still very low, it's the biggest annualized gain
since December 2014.
Since 2009, the Standard & Poor's 500 Index has rallied more than 200 percent, roughly matching the average annualized gain
in the last seven bull markets.
The nearly 20 percent annualized gain
is twice the rate of growth in the S&P 500.
The fourth quarter decline follows an annualized gain
of 3.1% in the third quarter.
Even if you adjust for inflation, it's still a 13 percent annualized gain
Meanwhile, formerly hard-hit Las Vegas showed an 8.6% annualized gain
, Miami a 16.1% gain, and Phoenix a 30.4% average annualized home price gain.