<div class="ebd-block " data-type="text" ><p><span data-redactor-tag="span" data-verified="redactor" data-redactor-style="font-size: 22px" style="font-size: 22px;"></span><a href="gold.globeinvestor.com" title="" class="" target="_blank" rel="noopener noreferrer"><span style="font-size: 22px;" rel="font-size: 22px;" data-verified="redactor">From time to time, we get asked about positions which show a loss on client statements, but in actuality are performing well (i.e., book value is higher than market value).One position, in particular, we are asked about a lot is the CCL876 – CCL Global Market Neutral investment.This strategy has a 2017 YTD return of 4.80% (Source:gold.globeinvestor.com as of November 3, 2017).From August 2016 when the strategy was initiated, to the end of 2016, it had returned 3.8%.Despite these figures, we are still seeing a book value higher than the market value.The reason for this is simply explained.The position pays out a quarterly distribution and has also paid out a one-time special distribution to date (December 2016).Since inception, clients have received 14.68% in cash.This cash portion is what is frequently missed, and must be factored into the equation to reach accurate return percentages, and lend better insight into how the position is performing overall.</span></a></p></div>
